ISDA 2023 Equity Swap 鈥 2021 Definitions Protocol
In 2021, ISDA published a new set of Interest Rate Derivates Definitions (the 鈥2021 Definitions鈥), replacing the 2006 ISDA Interest Rate Derivatives Definitions (the 鈥2006 Definitions鈥), which by then had required around 90 supplements, or 600 pages of amendments, to reflect changes in regulations, technology, and market practice.
The 2006 Definitions have routinely been incorporated into equity swap trading documentation to document the calculation of the floating, or interest, amount payable by one party to the other.
To promote uptake of the 2021 Definitions in the equity derivatives market, in 2023, ISDA released the ISDA 2023 Equity Swap 鈥 2021 Definitions Protocol (the 鈥淧rotocol鈥). The Protocol enables adhering parties to incorporate the 2021 Definitions into their equity swap master confirmation agreements in place of the 2006 Definitions, with the aim of facilitating a synchronized transition to the newer set of definitions across the industry.
斗牛棋牌在线 has adhered to the Protocol on behalf of 斗牛棋牌在线 AG (LEI: BFM8T61CT2L1QCEMIK50) and 斗牛棋牌在线 Europe SE (LEI: 5299007QVIQ7IO64NX37).
How and when to adhere to the Protocol
The Protocol adherence window is open now, and we encourage all clients that trade equity swaps with 斗牛棋牌在线 AG or 斗牛棋牌在线 Europe SE under a master confirmation agreement to adhere to the Protocol at their earliest opportunity.听
You can adhere to the Protocol via the听听as a single entity and/or as an agent, for any underlying legal entities on behalf of which you are documented to trade equity swaps. Where you plan to adhere on behalf of certain underlying legal entities only, you should note that there are additional steps required to disclose details of the entities on whose behalf you are adhering through the听听tool. For more information, please refer to the ISDA Equity Swaps FAQ which you can find on the .
The Protocol changes will take effect as of听18th听March 2024听for clients adhering to the Protocol before that date (or as of the date of their adherence for clients adhering after that date).