INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC
For Immediate Release, Monday, September 8, 2008
For More Information, Please Contact:
Louise Marshall, ISDA New York, 212-901-6014, email@example.com
Cesaltine Gregorio, ISDA New York, 212 901 6019, firstname.lastname@example.org
ISDA TO PUBLISH PROTOCOL FOR FANNIE AND FREDDIE
NEW YORK, Monday, September 8, 2008– The International Swaps and Derivatives Association (ISDA) has announced that, after consultation with industry participants, it will launch a protocol to facilitate settlement of credit derivative trades involving Fannie Mae and Freddie Mac, the US government sponsored entities that went into conservatorship of the US government, effective Sunday, September 7.
The Protocol will be open to ISDA members and non-members alike. ISDA will publish further details in due course.
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 approximately 850 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.