The ISDA Close-out Amount Protocol (the “Protocol”) offers market participants an efficient way to amend their 1992 ISDA Master Agreements to replace Market Quotation and (subject to the parties’ elections) Loss with Close-out Amount. In addition by adhering to this protocol certain amendments are deemed to be made to credit support provisions published by ISDA and (subject to the parties’ elections) certain sets of definitions and are set forth in annexes 1 to 14 of the protocol text.

The Protocol will apply to all transactions that incorporate the covered 1992 ISDA Master Agreements, regardless of the date such transaction is entered into (unless the relevant Confirmation contains sufficient language to exclude the effect of the Protocol in accordance with Section 4(c) of the Protocol).

The ISDA Close-out Amount Protocol is open to ISDA members and non-members. There is no cut off date for adherence.  ISDA reserves the right to designate a closing date of this protocol by giving 30 days notice on this site.