The International Swaps and Derivatives Association (ISDA) has released the ISDA 2013 Reporting Protocol and Side Letters. The documents are used for counterparty consent to information disclosure.
The protocol also facilitates market participants' compliance with mandatory trade reporting requirements. The principal and agent versions of Side Letters essentially are the bilateral versions of the Reporting Protocol. Additional disclosure requirements may be integrated into the Side Letters on a bilateral basis.
"We are committed to making markets safer and more efficient, and the ISDA 2013 Reporting Protocol and Side Letters are among the many tools that ISDA is making available to help market participants meet their trade reporting obligations," says Robert Pickel, CEO of ISDA.
ISDA has published separate protocols facilitating compliance with certain Dodd-Frank requirements, and says it will do so soon for European Market Infrastructure Regulation (EMIR). Those protocols also include disclosure consents.
The protocol will be open indefinitely until ISDA designates a closing date. Click here for more information from ISDA.