MTA Amendment Agreement

This form of agreement may be used by two parties to amend the minimum transfer amounts (“MTAs”) that are produced when parties use the Protocol plus applicable supplements to produce a New CSA that provides for either “gross/gross” or “gross/net” margining. The New CSA produced by the Protocol in this scenario includes two separate delivery/return amounts rather than the single delivery/return amount that normally applies. Under this scenario, the Protocol splits the MTA selected by the parties through matched Questionnaires and allocates 50% of the originally selected MTA to each delivery/return amount as a “gross MTA” or “net MTA”. This agreement allows the parties to replace that approach by defining a “gross MTA” or “net MTA” to equal the full amount of the originally selected MTA (or insert a different amount).

SA-CCR Own Goal Must be Corrected

In soccer, own goals do occasionally occur, when a defending player accidentally hits the ball into his or her own net, usually under intense pressure from the opposing team. In fact, the current FIFA World Cup looks set to break...

Joint Response on Future of Tokenization

On July 6, ISDA and Global Digital Finance (GDF) submitted a joint response to a call for input on the future of tokenization by the Financial Conduct Authority (FCA) and Bank of England. Tokenization presents a significant opportunity for the...