ISDA and Markit Publish Cross-Border Swaps Representations on ISDA Amend

ISDA and Markit launched the ISDA Cross-Border Swap Representation Letter on ISDA Amend. The Cross-Border Letter allows market participants to provide counterparties with representations for U.S. persons status to determine whether compliance with various swap regulations is required by the CFTC's Interpretive Guidance. ISDA and Markit made the representations found in the Cross-Border Swaps Representation Letter available via ISDA Amend. The substantive representations on ISDA Amend are identical to ISDA's letter.

See: ISDA Press Release.Related News: CFTC Exemptive Order for Certain Swap Regulations (Fed. Reg. Version) (July 22, 2013) Delta Strategy Group Summary: Final CFTC Cross-Border Guidance and Accompanying Exemptive Order (July 19, 2013); CFTC Approves Cross-Border Guidance and Exemptive Order (with Lofchie Comment) (July 12, 2013).