The International Swaps and Derivatives Association (ISDA) has released its portfolio reconciliation protocol, the ISDA 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol and Reporting Guidance Note.
The protocol is will allow swap market participants to simultaneously amend the terms of an agreement covered by the protocol to reflect portfolio reconciliation and dispute resolution obligations on OTC derivatives, central counterparties and trade repositories (EMIR) imposed by Regulation No. 648/2012 of the European Parliament and of the Council of 4 July 2012. The protocol also includes a disclosure waiver relating to reporting and record-keeping obligations under EMIR.
ISDA will also shortly publish a standard agreement based on the protocol which could be used between market participants to comply with these obligations on a bilateral basis.
The Reporting Guidance Note provides guidance on the reporting obligations under EMIR, and includes draft language that market participants can use when complying with those reporting obligations.
The protocol will be open indefinitely. Compliance with certain EMIR requirement is required by Sept. 15.
ISDA Launches Portfolio Reconciliation Protocol
The International Swaps and Derivatives Association (ISDA) has released its portfolio reconciliation protocol, the ISDA 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol and Reporting Guidance Note.
« GC Friday Interview: Mark Gem of Clearstream on Interoperability