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About the Credit Derivatives Determinations Committees

 

A Credit Derivatives Determinations Committee ("DC") currently exists in each of the following regions: the Americas, Asia excluding Japan, Australia-New Zealand, EMEA (Europe), and Japan.

 

Each DC deliberates issues involving Reference Entities traded under Transaction Types that relate to the relevant  region, including Credit Events, CDS Auctions, Succession Events and other issues. The determinations made by the DCs are governed by the Determinations Committees Rules. ISDA acts as a non-voting secretary to each DC and endeavors to co-ordinate this process in a transparent and operationally efficient manner.

 

At the bottom of each page in this section of the website you will find a table listing all issues submitted to the DC for resolution.  Each submission is considered by the DC and binding DC decisions are posted under "More Info" link in the form of DC resolutions. A sort and search function is available. Issues can be viewed by (i) active requests (ii) DC region specific (iii) all requests (iv) credit events only and; (v) succession events only.  There is also a search by issue function.

 

CDS Credit  Event Management: This section lists the active CDS Credit Event issues and provides related information to the market.

LCDS Credit  Event Management: This section lists the active LCDS Credit Event issues and provides related information to the market.

DC Material, Protocol & Committee Info:  This section contains information such as the Determinations Committees Rules, current and past DC members, details relating to the Annual List Review Process and Educational Material. 

Historical Succession Events:  Ongoing process requiring the DCs to consider past Events submitted by market participants as potential Succession Events. 

Credit Event Archive: This section provides you with a list of resolved DC issues and also links to pre-DC related Protocols as well as LCDS auctions. 

Submit a Request to the DC: Market participants can submit a question to the DC using an online form. The DC Secretary (ISDA) will post potential DC issues on this website.

 

 

 

Requests to the Determinations Committees
Issue Number
Submitted By
Date Submitted
Last Updated
Reference Entity
Transaction Type
Question
Category
Further Information Provided by Question Submitter
Committee
More Info
2012011901UBS AG 1/19/20122/3/2012Eastman Kodak CompanyNorth American CorporateHas a Bankruptcy Credit Event occurred with respect to Eastman Kodak Company?Credit Event http://investor.kodak.com/phoenix.zhtml?c=115911&p=irol-newsArticle&ID=1650196&highlight=AmericasInitial List PublishedQuestion DecidedMore Info
2011121501UBS AG 12/15/20111/30/2012Northern Rock (Asset Management) plcEuropean CorporateHas a Restructuring Credit Event occurred with respect to Northern Rock (Asset Management) plc?Credit Event http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary-via-tidm.html?tidm=85HXEMEA (Europe)List of Participating Bidders PublishedQuestion DecidedMore Info
2011110901 General Interest Question11/9/20111/17/2012PTT Aromatics and Refining Public Company Limited (PTTAR) and PTT Chemical Public Company Limited (PTTCH)Asia CorporateHas a Succession Event occurred with respect to PTT Aromatics and Refining Public Company Limited (PTTAR) and PTT Chemical Public Company Limited (PTTCH)?Succession Event Markit RED Notification dated 8 November 2011 provides factual summaryAsia Ex-JapanClosedQuestion DecidedMore Info
2012011101 General Interest Question1/11/20121/11/2012Panasonic Electric Works Co., Ltd.Japan CorporateHas a Succession Event occurred with respect to Panasonic Electric Works Co., Ltd.?Succession EventIn a press release (“Press Release”) entitled “Panasonic to Absorb >> see more...JapanRequest Accepted by DCMore Info
2012010501 General Interest Question1/5/20121/6/2012SANYO Electric Co., Ltd.Japan CorporateHas a Succession Event occurred with respect to SANYO Electric Co., Ltd.?Succession EventOsaka, Japan, August 31, 2011 - Panasonic Corporation ([NYSE:PC/TSE:6752] "Panasonic") >> see more...JapanRequest Accepted by DCMore Info
2011122801Citigroup Global Markets Limited 12/28/20111/5/2012Sino-Forest Corporation, a company existing under the laws of Canada with limited liability and whose registered office is located at 90 Burnhamthorpe Road West, Suite 1208, Mississauga, Ontario, Canada L5B 3C3 (the "Company").Asia CorporateHas a Bankruptcy Credit Event occurred on 18 December 2011 with respect to the Reference Entity under Section 4.2(b)(Bankruptcy) of the 2003 ISDA Credit Derivatives Definitions?OtherSection 4.2(b) of the 2003 ISDA Credit Derivatives Definitions Section 4.2(b) >> see more...Asia Ex-JapanClosedQuestion DecidedMore Info
 

 

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