ISDA®
INTERNATIONAL
SWAPS AND DERIVATIVES ASSOCIATION, INC
NEWS RELEASE
For
Immediate Release Friday, May 2, 2008
For More Information, Please Contact:
Carmen Neumann, 44 203 088 3554, cneumann@isda.org
Cesaltine Gregorio, 212 901 6019, cgregorio@isda.org
ISDA
LAUNCHES EUROPEAN LCDS PROTOCOL
The
Protocol is designed to facilitate amendment of transactions documented using
the European Loan CDS Standard Terms Supplement and form of Confirmation that
were published on July 30, 2007 to reflect the new templates published on
March 12, 2008.
A Protocol to facilitate cash settlement of European
Loan CDS (single-name and index) is currently under development.
The
Protocol is open to ISDA members and non-members alike. The adherence period
runs until May 15, 2008.
The
text of the Protocol and form of adherence letter, guidance on the mechanics
of the Protocol, answers to frequently asked questions and details on adherents,
are all available at www.isda.org.
About
ISDA
ISDA, which represents participants in the
privately negotiated derivatives industry, is among the world’s largest global
financial trade associations as measured by number of member firms. ISDA was
chartered in 1985, and today has over 825 member institutions from 56 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.
®ISDA is a registered trademark of the International
Swaps & Derivatives Association, Inc.