The International Swaps and Derivatives Association, Inc. (ISDA) today announced the final composition of the Credit Derivatives Determinations Committees further to an adjustment by the Depository Trust and Clearing Corporation (DTCC) in its classification of firms for the Asian regions. The adjusted data from DTCC has resulted in an amendment to the regional non-voting representatives in Asia Ex-Japan and Australia/New Zealand, and the regional voting and regional non-voting representatives in the Japan Committee. The buy-side representation on these committees has not changed.
Japan
Dealers:
Bank of America/Merrill Lynch
Barclays
Citibank
Credit Suisse
Deutsche Bank
Goldman Sachs
JPMorgan Chase Bank, N.A.
* Mizuho Securities (amended position)
Morgan Stanley
UBS
Regional Non-Voting Dealer:
*The Royal Bank of Scotland (amended position)
Asia Ex-Japan and Australia New Zealand
Dealers:
Bank of America/Merrill Lynch
Barclays
Citibank
Credit Suisse
Deutsche Bank
Goldman Sachs
JPMorgan Chase Bank, N.A.
The Royal Bank of Scotland
Morgan Stanley
UBS
Regional Non-Voting Dealer:
*Nomura International (amended position)
Formal membership of the Committees will be confirmed once firms have signed a standard form of agreement with ISDA and (if they have not done so already) adhered to the ‘Big Bang’ CDS Protocol.
The resolutions of the Determinations Committees will be binding on all CDS transactions that have incorporated ISDA’s March 2009 Supplement. The Supplement may be included in the documentation for CDS transactions going forward. Parties can incorporate its terms into existing transactions by adhering to the ‘Big Bang’ CDS Protocol on or before April 7, 2009.
