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ISDA® INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION NEWS
RELEASE For Immediate Release
Wednesday, April 9, 2003 For More Information,
Please Contact: Or
ISDA ANNOUNCES MASTER
AGREEMENT PROTOCOL, MANDARIN AND JAPANESE
LANGUAGE MASTER AGREEMENTS TOKYO, JAPAN
WEDNESDAY APRIL 9, 2003 – The International Swaps and Derivatives Association today
announced its plans to launch a 2003 ISDA Master Agreement Protocol that will
bring into line all existing ISDA documentation with the new 2002 Master
Agreement for those parties choosing to adhere to the Protocol within a
discrete period. “The 2003 Master Agreement Protocol will
facilitate wholesale updating of the entire library of ISDA publications to
take into account the 2002 ISDA Master Agreement,” said The library of ISDA documents refers in various
provisions to the 1992 Master Agreement and to various terms and provisions
in that 1992 agreement. The purpose of the Protocol is to facilitate the
amendment of ISDA definitional booklets and Bridges for those firms that wish
to update their documentation to refer to the 2002 ISDA Master Agreement. The
2003 ISDA Protocol is being drafted by Allen & Overy and will be
available mid-year 2003. ISDA also announced today the circulation of pre-publication drafts of Mandarin and Japanese language versions of the Master Agreement to its membership. Publication of these documents will facilitate expanded use of the Agreement throughout the region and is anticipated in the coming weeks. About ISDA 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 590 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. |