ISDA®
INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC.

NEWS RELEASE

For Immediate Release, Tuesday, August 11, 2009

For More Information, Please Contact:

Deirdre Leahy, ISDA New York, +1 212-901-6021, dleahy@isda.org

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

ISDA Comments on Proposed Legislation

for Regulation of OTC Derivatives

NEW YORK, Tuesday, August 11, 2009 – In response to the draft legislation proposed by the US Congress today on regulation of privately negotiated derivatives, the International Swaps and Derivatives Association, Inc. (ISDA) issued the following statement:

“ISDA is appreciative of the recognition by Congress and the Administration that reform of the US financial system is an important part of ensuring a healthy economy,” said Robert Pickel, Executive Director and Chief Executive Officer, ISDA. “We are examining the details of the draft legislation being especially mindful of the need to preserve the availability and flexibility of privately negotiated derivatives for American companies.  Privately negotiated derivatives are important both in order for American companies to manage risk as well as to compete on a global basis.  We look forward to working with Congress and with regulators to address these important matters.”

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 830 member institutions from 58 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.