ISDA®
INTERNATIONAL
SWAPS AND DERIVATIVES ASSOCIATION, INC.
NEWS RELEASE
For Immediate Release, Friday, May 15, 2009
For More Information, Please Contact:
Cesaltine Gregorio, ISDA New
York, +1 212-901-6019, cgregorio@isda.org
Deirdre Leahy, ISDA New York,
+1 212-901-6021, dleahy@isda.org
Donna Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org
The purpose of the Protocol is to update the Settlement Method Provisions of single-name and index CDS transactions confirmed on previously published cancellable forms, also known as Covered Legacy Transactions. These legacy trades are based on certain previously published cancellable (non-ISDA) documentation and LevX Series 1 trades including single name and LevX Series 1 trades on Edscha AG.
The Protocol is open to ISDA members and non-members alike. The adherence period runs until May 22, 2009. 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 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 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.