ISDA announced over 720 market participants have signed up thus far for the novation protocol. "This continues to be a big issue and we've devised a way to cut across the market place with a common approach," Robert Pickel, ceo and executive director of the trade association, told attendees. The protocol will ease the way for parties to transfer derivative positions to a third party. In order to give hedge funds more time to sign up, the association has extended the deadline to the end of November (DW, 10/24).
