FAQ: 2014 ISDA Credit Derivatives Definitions Protocol and Implementation for Emerging Market Regions

Previous communications from ISDA regarding implementation of the 2014 ISDA Credit Derivatives Definitions (the “2014 Definitions”) have indicated that the 2014 Definitions would not apply via a Protocol to existing transactions on sovereign and financial Reference Entities, and so those transactions would remain on the 2003 ISDA Credit Derivatives Definitions (the “2003 Definitions”). Based on member feedback during the consultation phase on the draft Protocol, an alternative approach has been requested for certain emerging market regions. This change has implications for existing transactions as at September 22, 2014 (“Legacy Transactions”) and new trades from that date forward (“New Transactions”). (Updated August 21, 2014)

Documents (1) for FAQ: 2014 ISDA Credit Derivatives Definitions Protocol and Implementation for Emerging Market Regions

ISDA Response to EC on Environmental Legislation

On September 10, ISDA, the Association for Financial Markets in Europe (AFME) and the European Fund and Asset Management Association (EFAMA) submitted a joint response to the European Commission’s (EC) call for evidence on reducing the administrative burden in environmental...

Credit Derivatives Trading Activity Q2 2025

This report analyzes credit derivatives trading activity reported in Europe. The analysis shows European credit derivatives transactions based on the location of reporting venues (EU versus UK) and product type. The report also compares European-reported credit derivatives trading activity to...

Recognition of Cross-product Netting is Critical

US regulators are in the process of making important changes to the regulatory capital framework by proposing modifications to the enhanced supplementary leverage ratio, which should help stop it from acting as a non-risk-sensitive constraint on bank capacity – a...