On April 5, ISDA announced market practice changes for North American LCDS transactions and the publication of new Bullet LCDS standard terms documentation. ISDA Release.
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IIFM and ISDA Launch Islamic Finance Master Agreement
On March 1, the International Islamic Financial Market (IIFM) and ISDA launched the Tahawwut (Hedging) Master Agreement, the first globally-standardized documentation for privately negotiated Islamic hedging products. ISDA Release.
ISDA Market Review
On March 8, ISDA published an Independent Amount Whitepaper as well as a Market Review of OTC Bilateral Collateralization Practices, which are designed to provide a better understanding of current market collateralization and provide recommendations for market participants. ISDA Release.
ISDA Market Practice Changes for Asian CDS
On December 21, ISDA announced market practice changes, effective immediately, to the trading convention for CDS in Asia. The changes include the adoption of standard coupons and full first coupons in CDS transactions. ISDA Release.
ISDA Common Principles for Give-Up Agreements
On November 10, ISDA published recommended common principles intended to guide documentation for give-up agreements across central counterparties (CCPs) or clearing houses. The principles address: (i) fallbacks in the event of rejection for clearing, (ii) the ability to reject trades, (iii) a reduction of trading limits, and (iv) determinations of market decisional bodies in relation to CCPs. ISDA Release.