The International Swaps and Derivatives Association is set to publish a second template for documenting trades of credit-default swaps on asset-backed securities. The template will be for end users and follows the dealer version published this summer.
Dealers are expected to respond by Wednesday to a draft by end investors on pay-as-you-go settlement for CDS. The draft, submitted Sept. 13, was a response by end investors to the dealer template, which they had criticized (DW, 5/20). Officials at ISDA were traveling and could not be reached for comment by press time.