FIA-ISDA CLEARED DERIVATIVES EXECUTION AGREEMENT - Version 1.1

(Version 1.1, published September 20, 2012, replaces Version 1)

The Cleared Derivatives Execution Agreement is a template for use by cleared swaps market participants in negotiating execution-related agreements with counterparties to swaps that are intended to be cleared. The Memorandum explains the changes between Version 1 and Version 1.1.

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FIA-ISDA CLEARED DERIVATIVES ADDENDUM
The FIA-ISDA Cleared Derivatives Addendum is a template for use by cleared swaps market participants to document the relationship between a clearing member and its customer for purposes of clearing over-the-counter derivatives transactions (referred to as "Cleared Derivatives Transactions"). It is intended for use where the clearing member is a registered futures commission merchant under US law. The Addendum is generally designed to be a supplement to the parties' futures clearing agreement, and the Addendum will supersede that underlying agreement only with respect to Cleared Derivatives Transactions. Among other provisions, the Addendum contains representations reflecting the US regulatory regime applicable to Cleared Derivatives Transactions, procedures for the clearing member to close out and liquidate Cleared Derivatives Transactions following a Close-out Event or Tax Liquidation Event and tax provisions relating to Cleared Derivatives Transactions.

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FIA-ISDA CLEARED DERIVATIVES EXECUTION AGREEMENT
The Cleared Derivatives Execution Agreement is a template for use by cleared swaps market participants in negotiating execution-related agreements with counterparties to swaps that are intended to be cleared.  The Memorandum, together with the Annex thereto, includes important information relating to the use of the Cleared Derivatives Execution Agreement, a brief description of the intention of each section of the Cleared Derivatives Execution Agreement that is unique to the execution of a cleared swap transaction and a comparison of execution arrangements.

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RECOMMENDED COMMON PRINCIPLES FOR RELATIONSHIPS BETWEEN CUSTOMER AND EB AND CM
(November 2009)
The principles are intended to facilitate negotiation of relevant agreements in the context of different clearing platforms. 

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