ISDA®
INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION
NEWS RELEASE

For Immediate Release Wednesday, March 6, 2002
For More Information, Please Contact:
Stacy Carey, ISDA New York, (212) 332-1200; Fax (212) 332-1212; scarey@isda.org

ISDA OPPOSES SENATE ENERGY DERIVATIVES AMENDMENT

NEW YORK, Wednesday, March 6, 2002 - The International Swaps and Derivatives Association (ISDA) joined with major trade associations in opposing an amendment expected to be offered by Senator Diane Feinstein that would reverse legal certainty provisions adopted as a part of the Commodity Futures Modernization Act of 2000 (CFMA) for OTC energy derivatives. The amendment repeals CFMA exemptions and exclusions for bilateral derivatives and multilateral electronic markets for energy commodities, renewing concerns about exempt commodity transactions potentially being considered illegal off-exchange futures contracts. The full text of the letter can be accessed at: http://www.isda.org/speeches/pdf/FeinsteinLetter.pdf

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