Visit the Dodd-Frank Documentation Initiative page and read about ISDA Amend

NEWS RELEASE
For Immediate Release

ISDA Receives Back-Office Technology Product of the Year from Risk Awards 2013 

NEW YORK, January 10, 2013 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced that ISDA Amend, a technology-based solution that facilitates compliance with certain Dodd-Frank regulatory requirements, has won the Back-Office Technology Product of the Year from Risk Awards 2013. The Risk Awards are announced annually by Risk magazine, a leading publication for financial risk management and the global derivatives markets.

ISDA Amend, a Markit-built solution, provides a single online tool that allows swap market participants to simultaneously amend multiple ISDA Master Agreements and other agreements governing swaps as well as bilaterally exchange relevant information necessary to facilitate compliance with the External Business Conduct rules applicable to over-the-counter (OTC) derivatives transactions subject to the rules. ISDA Amend utilizes the technology platform provided by Markit Counterparty Manager, formerly known as Markit Document Exchange (MDE), a service already used by swaps market participants to manage counterparty documents.

“Helping market participants comply with the new regulatory framework for OTC derivatives is a strategic priority for ISDA, and this award demonstrates the value of our efforts,” said Robert Pickel, ISDA Chief Executive Officer. “Nearly 5,000 institutions have already adhered to the ISDA August 2012 Dodd Frank Protocol, and of those a majority have onboarded onto the ISDA Amend platform in order to automate the information-gathering process with their swap dealer counterparties.”

Market participants can start the amendment process by first adhering to the ISDA August 2012 Dodd-Frank Protocol, which was launched on August 13.  After adhering to the Protocol, buy-side firms may then use ISDA Amend to complete the Protocol questionnaire, which is necessary to make the protocol amendments operative and provides counterparty specific information, legal classifications and elections.

Risk Awards 2013 consists of 29 categories, ranging from Derivatives House of the Year to Deal of the Year. Three new categories were added to this year’s awards, including the Back-Office Technology Product of the Year.

For Media Enquiries, Please Contact:
Lauren Dobbs, ISDA New York, +1 212 901 6019, ldobbs@isda.org
Rebecca O’Neill, ISDA London, +44 203 088 3586, roneill@isda.org
Donna Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org

About ISDA

Since 1985, ISDA has worked to make the global over-the-counter (OTC) derivatives markets safer and more efficient. Today, ISDA is one of the world’s largest global financial trade associations, with over 815 member institutions from 60 countries on six continents. These members include a broad range of OTC derivatives market participants: global, international and regional banks, asset managers, energy and commodities firms, government and supranational entities, insurers and diversified financial institutions, corporations, law firms, exchanges, clearinghouses and other service providers. Information about ISDA and its activities is available on the Association’s web site: www.isda.org.

ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc.