ISDA NEWS Online

Welcome to the first edition of ISDA NEWS online. This version replaces the hard copy of ISDA NEWS formerly mailed to members. We hope you like the new format and welcome your comments.

2003 Regional Member Conferences

William McDonough, Chairman of the Public Policy Accounting Oversight Board, will deliver the keynote address at ISDA’s North American regional member conference on September 22.

ISDA 2003 Operations Benchmarking Survey

The ISDA 2003 Operations Benchmarking Survey was published August 1. Based on responses from 64 institutions, the Survey demonstrates the industry is increasingly setting and meeting targets on confirmation processing. The 2003 Survey finds that, during calendar year 2002, participating firms met their objective of producing confirmations by five days after trade date (T+5) for forward rate agreements (FRAs), vanilla swaps and commodity derivatives. It also shows that 83 percent of credit derivative and 84 percent of equity derivative confirmations are sent out in the T+5 target time.

2002 Master Agreement Protocol

On July 15, ISDA published a Protocol for the 2002 ISDA Master Agreement (available at www.isda.org). The 2002 Master Agreement Protocol offers market participants an efficient way to address various issues that arise when certain documents published before 2002 are used with a 2002 ISDA Master Agreement. The Protocol enables firms to amend eighteen definitional booklets and credit support documents to reflect the new terminology and provisions set forth in the 2002 Master Agreement.

CLICK HERE TO VIEW CLIP ISDA CEO Bob Pickel on CNBC Asia: “Mr. Buffet has acknowledged his company is a large-scale user of derivatives...”

For ISDA Members Only LONDON - The Cafe Royal September 17, 2003 NEW YORK - The Roosevelt Hotel September 22, 2003

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