Wednesday June 12 2013
News Source: Global Exchanges
Focus: Derivative Market Segment
Type: General
Country: International
Link: http://www2.isda.org/news/isda-and-foa-publish-client-cleared-otc-derivatives-addendum
The International Swaps and Derivatives Association, Inc. (ISDA) and the Futures and Options Association (FOA) today announced the launch of the ISDA/FOA Client Cleared OTC Derivatives Addendum.
The ISDA/FOA Client Cleared OTC Derivatives Addendum is a template for use by cleared swaps market participants to document the relationship between a clearing member and its client for purposes of clearing over-the-counter derivatives transactions across central counterparties (CCPs) that use the principal-to-principal client clearing model.
The Addendum, which is published jointly by ISDA and the FOA, is designed to be a supplement to an ISDA Master Agreement or FOA futures and options agreement. ISDA will shortly publish a form of Paragraph 11 to the English Law Credit Support Annex that can be used with the Addendum, to be followed by a form of Paragraph 13 to the New York Law Credit Support Annex.
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