(published on July 16, 2025)

The Charter provides a standard form of governance for the CDS Determinations Committees (the “Governance Committee”). The governance committee is responsible for taking market feedback and adopting rule changes affecting the structure and operations of the DCs to ensure their long-term viability and meet market expectations for efficiency and transparency in credit event determinations. The governance committee would be prohibited from involvement in DC decisions, ensuring separation between the determinations process and the procedure for setting the structure and framework of the DCs.