ISDA®
INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC.

NEWS RELEASE

For Immediate Release, Wednesday, May 13, 2009

For More Information, Please Contact:

Louise Marshall, ISDA New York, +1 212-901-6014, lmarshall@isda.org

Cesaltine Gregorio, ISDA New York, +1 212-901-6019, cgregorio@isda.org

Donna Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org

ISDA Comments on Proposed Regulatory Reform for OTC Derivatives

New York, Wednesday, May 13, 2009 – In response to US Treasury Secretary Timothy Geithner's remarks today on reform of the regulatory structure for privately negotiated derivatives, ISDA issued the following statement:

"This proposal is an important step toward much-needed reform of financial industry regulation,” said Robert Pickel, Executive Director and Chief Executive Officer, ISDA. “ISDA welcomes the recognition of industry measures to safeguard smooth functioning of privately negotiated derivatives and looks forward to working with policymakers to ensure these reforms help preserve the widespread availability of swaps and other important risk management tools."

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 820 member institutions from 57 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 and Derivatives Association, Inc.