Additional Provisions to the 1998 FX and Currency Option Definitions

Additional Disruption Event Provisions for an Offshore Deliverable CNY Transaction (2021 Definitions)

(published on December 30, 2021)(Note: the Revised Fallback Matrix has been superseded by the document published December 30, 2021)

The Additional Disruption Event Provisions for an Offshore Deliverable CNY Transaction (2021 Definitions) (the “Additional Provisions”) and ISDA Offshore Deliverable CNY Transaction Disruption Fallback Matrix (“Fallback Matrix”) provide for standard documentation for deliverable CNY FX Transactions, Currency Option Transactions and Swap Transactions (referencing the 2021 ISDA Definitions) where a CNY Disruption Event (as defined in the Additional Provisions) renders CNY non-deliverable. Please note that the Fallback Matrix may be amended from time to time to include new Currency Pairs (as defined in the Additional Provisions).

For your convenience, we have attached sample language illustrating how to incorporate the Additional Provisions into a 2021 ISDA Interest Rate Derivatives Definitions confirmation and into a 1998 FX and Currency Option Definitions confirmation.

 

Additional Provisions for Cash-Settled FX Forwards and Currency Options and Developed Markets Currency Matrix (version 1, published November 22, 2021)

The Additional Provisions set out additional terms that parties can incorporate into cash-settled FX and Currency Option Transactions that are traded on the currency pairs listed on the Developed Markets Currency Matrix (the “Currency Matrix”).

The Exhibits included in the Additional Provisions provide an illustrative example of a Confirmation for an FX Forward and a Currency Option Transaction, showing how market participants wishing to adopt the Additional Provisions and Currency Matrix may do so.

Please note, the Currency Matrix may be amended from time to time to include new currencies.

 

Revised ISDA Offshore Deliverable CNY Transaction Disruption Fallback Matrix

(published on December 30, 2021) Note: This supersedes the version dated September 8, 2016

The revised Fallback Matrix is amended to be used with the “Additional Disruption Event Provisions for an Offshore Deliverable CNY Transaction (2021 Definitions)”.

 

Revised Additional Disruption Event Provisions for an Offshore Deliverable CNY Transaction and ISDA Offshore Deliverable CNY Transaction Disruption Fallback Matrix

(published on January 28, 2014) Note: This supersedes version dated October 14, 2011
(Note: the Revised Fallback Matrix has been superseded by the document published December 30, 2021)

The revised and restated Additional Provisions, Fallback Matrix and Form of Confirmation were published in light of the opening of new offshore RMB trading centers in 2013. The revised documents enable parties to select multiple Offshore CNY Centers for the purposes of triggering a CNY Disruption Event. No material changes have been made to the definition of “CNY Disruption Event” or the Disruption Fallbacks.

 

2012 Additional Provisions for Optional Early Termination to the 1998 FX and Currency Option Definitions (March 13, 2012)

The 2012 Additional Provisions for Optional Early Termination incorporates terms, a template and guidance for an Optional Early Termination as an amendment to the 1998 FX and Currency Option Definitions and the Annex to the 1998 FX and Currency Option Definitions, respectively.

 

Letter Agreement in Relation to the Additional Disruption Event Provisions for an Offshore Deliverable CNY Transaction

(published February 27, 2012)

This side letter allows parties to amend the CNH Transactions that have been entered into between them (except those identified in the Schedule to the side letter), regardless whether the CNH Transactions are confirmed on an electronic platform (e.g., the SWIFT platform) or evidenced by way of a written confirmation. The purpose of the side letter is to apply the Additional Disruption Event Provisions for an Offshore Deliverable CNY Transaction and the Fallback Matrix published by ISDA on October 14, 2011 (as amended and supplemented from time to time) to those CNH Transactions.

 

Additional Disruption Event Provisions for an Offshore Deliverable CNY Transaction and ISDA Offshore Deliverable CNY Transaction Disruption Fallback Matrix

(published October 14, 2011)

The Additional Disruption Event Provisions for an Offshore Deliverable CNY Transaction (the “Additional Provisions”) and ISDA Offshore Deliverable CNY Transaction Disruption Fallback Matrix (“Fallback Matrix”) provide for standard documentation for deliverable CNY FX Transactions, Currency Option Transactions and Swap Transactions where a CNY Disruption Event (as defined in the Additional Provisions) renders CNY non-deliverable. Please note that the Fallback Matrix may be amended from time to time to include new Currency Pairs (as defined in the Additional Provisions).

For your convenience, we have attached an illustrative example of a Confirmation marked to show how market participants wishing to adopt the Additional Provisions and Fallback Matrix may do so.

Free downloads for Additional Provisions to the 1998 FX and Currency Option Definitions (16)