ISDA®
INTERNATIONAL
SWAPS AND DERIVATIVES ASSOCIATION, INC
NEWS RELEASE
For Immediate Release Monday, July 16, 2007
For More Information, Please Contact:
Scott Marra, ISDA New York, 212-901-6013, smarra@isda.org
ISDA PUBLISHES iTRAXX® PROTOCOL
NEW YORK, Monday, July 16, 2007 – The International Swaps and Derivatives Association (ISDA) today published a protocol created to address the iTraxx® Europe Tranched Transactions Standard Terms Supplement, which was published on September 20, 2006.
The purpose of the
iTraxx® Protocol is to make certain amendments to the standard documentation
for single tranche transactions that reference either Series 4 or Series 5
of the iTraxx® Europe index (the Relevant Transactions). Many Relevant
Transactions entered after September 20, 2006 will have been documented incorporating
the Standard Terms Supplement, in which case adherence to the Protocol will
not affect such Relevant Transactions. However adherence to the Protocol
would be appropriate for purposes of any Relevant Transaction that has been
documented by reference to a previous version of the Standard Terms Supplement
that was published on September 19, 2005.
The Protocol is open to ISDA members and non-members alike. The adherence period for the Protocol runs from July 16 to July 30, 2007.
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. A payment form is also available on the website.
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 800 member institutions from 54 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.