ISDA and IHS Markit release ISDA Amend 2.0
11 August 2016 London
Image: Shutterstock
The International Swaps and Derivatives Association (ISDA) and IHS Markit have launched a new version of ISDA Amend.
Dubbed ISDA Amend 2.0, the free service for managing multiple ISDA Master Agreements and sharing regulatory representations through Counterparty Manager has been updated with functionality to implement the new margining requirements for non-cleared derivatives.
The new version also offers the ability to inform counterparties about elections they have made under the ISDA Resolution Stay Jurisdictional Modular Protocol (JMP), which aims to standardise contractual agreements across jurisdictions with inconsistent termination right rules.
“ISDA and IHS Markit have collaborated on ISDA Amend for over five years, and it has proved hugely successful in helping market participants gather and share data required by the Dodd-Frank Act and European Market Infrastructure Regulation (EMIR),” said Katherine Darras, general counsel at the association.
“ISDA Amend 2.0 broadens that offering, and will help firms implement the non-cleared derivatives margin rules, as well as help market participants provide information to their counterparties and make elections related to their adherence to jurisdictional modules under the ISDA Resolution Stay JMP.”
Darren Thomas, managing director and head of Counterparty Manager at IHS Markit, commented: “ISDA Amend 2.0 has been designed to manage the complexity of these multi-jurisdictional regulations. The service will leverage data provided through previous ISDA Amend protocols with full connectivity to IHS Markit’s end-to-end collateral repapering solution to digitise, negotiate and amend collateral agreements on Counterparty Manager.”
Dubbed ISDA Amend 2.0, the free service for managing multiple ISDA Master Agreements and sharing regulatory representations through Counterparty Manager has been updated with functionality to implement the new margining requirements for non-cleared derivatives.
The new version also offers the ability to inform counterparties about elections they have made under the ISDA Resolution Stay Jurisdictional Modular Protocol (JMP), which aims to standardise contractual agreements across jurisdictions with inconsistent termination right rules.
“ISDA and IHS Markit have collaborated on ISDA Amend for over five years, and it has proved hugely successful in helping market participants gather and share data required by the Dodd-Frank Act and European Market Infrastructure Regulation (EMIR),” said Katherine Darras, general counsel at the association.
“ISDA Amend 2.0 broadens that offering, and will help firms implement the non-cleared derivatives margin rules, as well as help market participants provide information to their counterparties and make elections related to their adherence to jurisdictional modules under the ISDA Resolution Stay JMP.”
Darren Thomas, managing director and head of Counterparty Manager at IHS Markit, commented: “ISDA Amend 2.0 has been designed to manage the complexity of these multi-jurisdictional regulations. The service will leverage data provided through previous ISDA Amend protocols with full connectivity to IHS Markit’s end-to-end collateral repapering solution to digitise, negotiate and amend collateral agreements on Counterparty Manager.”
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