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Ready, Set, Clear: FIA and ISDA Publish Standardized Agreement Addressing Execution Issues for Cleared Swaps – Teigland-Hunt LLP Client Alert

Jun 17, 2011
  • “FIA-ISDA Cleared Derivatives Execution Agreement” now published
  • Standardized swap addendum for clearing agreements to follow

In anticipation of growing demand for swap clearing with the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Futures Industry Association (FIA) and the International Swaps and Derivatives Association, Inc. (ISDA) today published their first standardized form of agreement covering cleared swaps. The “Cleared Derivatives Execution Agreement” will allow parties entering into swaps that are intended to be cleared to address certain issues that may arise in connection with the execution of such transactions. In the near future FIA also will be publishing a standardized form of addendum for futures clearing agreements between customers and their futures commission merchants (FCMs) that addresses terms related to the clearing of swaps.

See the TH Client Alert attached for more details about both of these important documentation initiatives.

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