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Derivatives

Evergreen Novation Doc Due

The International Swaps and Derivatives Association plans to release a draft of its so-called Evergreen Protocol this week.

The International Swaps and Derivatives Association plans to release a draft of its so-called Evergreen Protocol this week. The protocol, also referred to as NPII, will be an update to ISDA's 2005 Novation Protocol, intended to make signing up easier for new market entrants and other dealers and funds that missed committing to the original form (DW, 12/23). The adherence period for the original protocol closed Nov. 30 with more than 2,000 market participants signed up. The new protocol will not have an expiration date.

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