SWAPS AND DERIVATIVES ASSOCIATION
Immediate Release Monday, March 17, 2003
Information, Please Contact:
Louise Marshall, ISDA New York, (212) 901-6000 Fax (212) 901-6001 firstname.lastname@example.org
EUROPEAN GAS ANNEX
NEW YORK, Monday, March 17, 2003 - The International Swaps and
Derivatives Association today published the ISDA European Gas Annex. The
Annex seeks to tie physical gas transactions under the Notional Balancing
Point (NBP) and Zeebrugge Hub Natural Gas Trading
Terms and Conditions (ZBT) contracts into Sections 6 & 7 of the Schedule
to an ISDA Master Agreement, thus allowing these contracts to be netted out
under the netting provisions of the ISDA Master Agreement in an event of
The ISDA European Energy and Developing Products Committee worked on this
documentation project alongside a group of dealers in the energy industry.
ISDA has produced versions compatible with both its 1992 Master Agreement and
its 2002 Master Agreement.
ISDA is the global trade
association representing leading participants in the privately negotiated
derivatives industry. ISDA was chartered in 1985, and today has more than 600
member institutions from 46 countries on
six continents. These members include most of the world's major
institutions that deal in privately negotiated derivatives, as well as many
of the businesses, governmental entities and other end users that rely on
over-the-counter derivatives to manage efficiently the financial market risks
inherent in their core economic activities.
Information about ISDA and its activities is available on the
Association's web site: www.isda.org.
is a registered trademark of the International Swaps & Derivatives