ISDA and Markit Begin Buy-Side Onboarding for Dodd-Frank Compliance Solution (News Release)

ISDA and Markit announced that they are onboarding buy-side market participants to ISDA Amend, their joint technology-based solution that facilitates compliance with certain Dodd-Frank regulatory requirements. The Markit-built solution provides a single online tool that allows swap market participants to simultaneously supplement multiple ISDA Master Agreements, as well as other agreements governing swaps, and to bilaterally exchange the relevant information necessary to facilitate compliance with the External Business Conduct rules applicable to over-the-counter derivatives transactions subject to these conduct rules. ISDA and Markit expect that the ISDA Protocol (which is the relevant set of legal agreements) and ISDA Amend also will be enhanced to facilitate compliance with regulatory requirements in other jurisdictions as the requirements are finalized.

An informational webinar to outline the functionality of ISDA Amend will be held on August 23, 2012.

[Lofchie Comment: Cadwalader served as counsel to ISDA in the development of the ISDA Protocol; see related news item.]

View news release in full here (links externally to ISDA website). Additional Materials: the new ISDA August 2012 Dodd-Frank Protocol; ISDA Amend.