ICE Clear Credit Implements 2014 ISDA Credit Derivatives Definitions

ICE Clear Credit issued a notice informing CDS Clearing Participants of its implementation schedule for the 2014 ISDA Credit Derivatives Definitions.

The ISDA Credit Derivatives Definitions are an updated and revised version (from 2013) that contain basic terms used in documentation of most credit derivatives transactions. The schedule for implementing the definitions is as follows:

Monday, September 22, 2014

• Non-Protocol single names will be clearing-eligible under 2003 and 2014 Definitions;
• All indices and Protocol single names will be clearing eligible under 2003 Definitions only.

Monday, October 6, 2014

• Legal conversion of legacy cleared indices and Protocol single names from 2003 to 2014 Definitions;
• Non-Protocol single names will remain clearing eligible under 2003 and 2014 Definitions;
• All indices and Protocol single names will be clearing eligible under 2014 Definitions only;
• New series of the CDX and iTraxx indices will be available to trade and clearing eligible under 2014 Definitions only.

Thursday, October 9, 2014

• New series of the CDX HY will be available to trade and clearing eligible under 2014 Definitions only.

See: ICE Clear Credit Press Release.Related news: ISDA Issues Updated Credit Derivatives Definitions (August 12, 2014).