The Loan Syndications and Trade Association loan-CDS working group approved the market advisor regarding market standard indemnity, which is part of the settlement rider, Elliot Ganz, executive v.p. and general counsel, said. The document is expected to go to the Trade Practices and Forms Committee later this week and Ganz is optimistic the form will be ready to go by the end of the day Thursday.
The document goes hand-in-hand with the confirm the International Swaps and Derivatives Association is putting together. The confirm will be distributed to members today to ask for a final round of feedback, Kimberly Summe, general counsel, said. She previously anticipated a call the week of May 22 to discuss the most recent draft and hopes to publish the confirm around Memorial Day (CIN, 5/15).
