For Immediate Release Wednesday, November 5, 2003
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welcomes the Senate’s vote against the proposed amendment and thanks those
Senators who voted in favor of continued legal certainty for these markets,”
This is the third time the Senate has voted down similar amendments. With each vote the majority against the proposal has increased. Today’s amendment was voted down by 56 votes to 41.
ISDA is the global trade association representing leading participants in the privately negotiated derivatives industry. ISDA was chartered in 1985, and today has more than 600 member institutions from 46 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.