Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
ISDA’s 2014 credit derivatives definitions will enter into force on 22 September 2014. Nigel Dickinson, partner in the capital markets team at Norton Rose Fulbright LLP considers the main changes and what lawyers can do to best prepare for the changes.
Press Release: ISDA Publishes ISDA 2014 credit derivatives definitions
A new standard reference obligation allowing for the adoption of a standardised reference obligation across credit default swap (CDS) contracts is among the new terms introduced in revised credit derivatives definitions published by the International Swaps and Derivatives Association (ISDA). The new definitions will be implemented on the September 2014 CDS roll date, but will only apply if parties reference them in their trade documentation for new trades or agree to amend the documentation for existing transactions through the use of a protocol.
The 2014 definitions introduce a number of new concepts, including:
Further details are available on ISDA’s website. ISDA has also published a protocol relating to the 2014 definitions, which will allow parties to incorporate the terms of the 2014 definitions into their existing CDS transactions (and for a certain period of time, new CDS transactions) by adhering to such protocol (the protocol).
Trading on the 2014 definitions is scheduled to begin on 22 September 2014 (the next iTraxx roll date) and from then onwards the credit derivatives market will move to trading on the 2014 definitions as the new market standard. Participants will be able to upgrade their existing CDS on the old definitions to the 2014 definitions in advance of 22 September 2014 by adhering to the protocol, subject to carve-outs for CD
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234