Dodd-Frank Update: T-H Recommends Early Adherence to ISDA’s August 2012 Dodd-Frank Protocol to Avoid Possible Delays – Teigland-Hunt LLP Client AlertFeb 27, 2013
Although the deadline to adhere to ISDA’s “Dodd-Frank Protocol I” has effectively been extended to May 1, 2013, T-H recommends that firms planning to adhere submit their protocol adherence letter and exchange questionnaires with dealer counterparties no later than March 31, 2013 to avoid processing delays that could occur as the deadline approaches.
Dodd-Frank Update: CFTC Issues Final Mandatory Clearing Determination for Certain Credit Default Swaps and Interest Rate Swaps – Teigland-Hunt LLP Client AlertNov 30, 2012
Phased deadlines for mandatory clearing requirements have now been set. Market participants should work with their FCMs to ensure that they have OTC clearing documentation in place in advance of the compliance deadlines.
Many Seinfeld fans will recall the angst felt by George Costanza when two of his worlds began to collide (in George’s case, his “relationship world” and his “friends world”). Some newcomers to swap clearing may be similarly concerned when they realize that their cleared swaps will not be governed by the familiar, tried and true ISDA master agreement that governs their uncleared swaps; instead they must become comfortable with new industry documentation that has emerged from the collision of the swaps and futures clearing worlds in the United States.2 This article is intended to explain the basis for this new documentation and provide an overview of its architecture and contents.
ISDA Publishes August 2012 DF Protocol to Address Dealer Business Conduct Standards and Other Rules – Teigland-Hunt LLP Client AlertAug 17, 2012
Earlier this week ISDA published the ISDA August 2012 DF Protocol (the “DF Protocol”), which is now open for adherence.