For
Immediate Release Tuesday, May 2, 2006
For More Information, Please Contact:
ISDA Publishes
Recovery Lock Credit Derivative Template
Recovery lock credit
derivatives give the credit protection buyer the security of a fixed rate of
recovery in case of a credit event.
“Standard documentation for
recovery lock credit derivative transactions will be helpful for the smooth and
efficient functioning of the product sector,” said
The Recovery Lock Credit
Derivative Template is the most recent publication in ISDA’s extensive suite of
credit derivative documentation. Other documents currently being finalized
include the Loan Only Credit Default Swap Template for use with CDS referencing
loan underliers in
About
ISDA
ISDA, which represents participants in the privately negotiated derivatives industry, is the largest global financial trade association by number of member firms. ISDA was chartered in 1985, and today has approximately 700 member institutions from 50 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.