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The 2001 Euro Protocol offers market participants the ability to amend the ISDA Master Agreement. Specifically, market participants may elect to amend provisions relating to the final phase of the implementation of the Euro. Adhering to the 2001 Euro Protocol will simplify the process of amending contracts entered into using ISDA's standard form of documentation. If undertaken through bilateral negotiation, contractual amendments to the ISDA Master Agreement could involve significant costs and time. ISDA would like to encourage all market participants
to consider adhering to Annexes 1, 2, 3 and 4 of the 2001 Euro Protocol between September 24, 2001 and November
30, 2001.
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