Last week the International Swaps and Derivatives Association,
Inc. (ISDA) published a new protocol called the
"
ISDA August 2012 Dodd-Frank Protocol" (DF
Protocol). This is the first in a series of protocols
planned to assist compliance with certain rules governing
derivatives markets that will soon commence under Title VII of the
United States Dodd–Frank Wall Street Reform and Consumer
Protection Act (Dodd-Frank Act).
What is the purpose of the DF Protocol?
The DF Protocol applies to all derivatives which are
"non-security-based swaps" for the purposes of the Dodd
Frank Act (swaps), including all non-exempt
interest rate swaps, FX swaps, credit default swaps, total return
swaps, interest rate and currency exchange options, commodities
options and swaps, metal swaps and energy swaps.
