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Derivatives

ISDA Circulates Final Master Agreement Draft

The International Swaps and Derivatives Association has released its fifth and final draft of the 2002 master agreement and is asking its members for comments by Nov. 11. Kimberly Summe, general counsel at ISDA in New York, said in an e-mail to ISDA members that the group would circulate a pre-publication draft at the end of November and publish the new agreement by year end.

Simon Firth, partner at Linklaters in London, said changes from the last draft are mainly fine-tuning and are not material, which is what would be expected this late in the process of drafting the new agreement.

ISDA circulated a copy of the fifth draft marked to show changes from the fourth, a copy marked to show changes from the 1992 master agreement and a copy of the extracted consolidated interest and compensation provisions. To view these documents, see below.

For Part 1 in pdf format, click here.

For Part 2 in pdf format, click here.

For Part 3 in pdf format, click here.

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