ISDA APPLAUDS ACTION ON LEGAL CERTAINTY LEGISLATION

The International Swaps and Derivatives Association, Inc. applauds the actions this week of both the House Committee on Agriculture and the Senate Committee on Agriculture, Nutrition and Forestry in separately approving legislation (H.R. 4541 and S. 2697) to provide legal certainty for over-the-counter derivatives under the Commodity Exchange Act.

"Although these two bills address a broad range of issues and have many differing provisions, they both seek to provide legal certainty for over-the-counter derivatives and we are gratified that these two key Committees have taken actions on legal certainty that will hopefully provide the catalyst for final Congressional action this year", said Rick Grove, ISDA's Chief Executive Officer and Executive Director. "We look forward to working with the other Committees of Congress and their members, the Administration, the regulatory agencies and others in the private sector to resolve the remaining open issues in the coming weeks", added Mr. Grove.

ISDA is an international organization and its more than 470 members include the world's leading dealers in OTC derivatives transactions. ISDA's dealer-members are among the principal customers of the regulated futures exchanges. In addition, ISDA's members include many of the businesses, financial institutions, governmental entities and other end-users that rely on OTC derivatives to manage their financial and commodity market risks with a degree of efficiency and effectiveness that would not otherwise be possible. Information about ISDA and its activities is available on the association's web site, www.isda.org.