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== Futures Commission | == [[Futures Commission Merchant]]s == | ||
The [[Futures Industry Association]] ({{tag|FIA}}) and the [[International Swaps and Derivatives Association]], Inc. ({{tag|ISDA}}) announced in a statement on August 29 that they had released a document that can be used by U.S. futures commission merchants ({{tag|FCM}}s) and their clients to document {{tag|OTC derivatives}} trades. | The [[Futures Industry Association]] ({{tag|FIA}}) and the [[International Swaps and Derivatives Association]], Inc. ({{tag|ISDA}}) announced in a statement on August 29 that they had released a document that can be used by U.S. futures commission merchants ({{tag|FCM}}s) and their clients to document {{tag|OTC derivatives}} trades. The dopcumentation can be accessed [http://www.futuresindustry.org/fia-and-isda-publish-documentation-for-cleared-swaps.asp here]. | ||
The [[FIA-ISDA Cleared Derivatives Addendum]], which is designed to be utilized with {{tag|futures}} and {{tag|options}} agreements negotiated between a U.S. FCM and its clients, includes what both parties will provide in the trade, including what will be done with customer {{tag|collateral}}. | The [[FIA-ISDA Cleared Derivatives Addendum]], which is designed to be utilized with {{tag|futures}} and {{tag|options}} agreements negotiated between a U.S. {{tag|FCM}} and its clients, includes what both parties will provide in the trade, including what will be done with customer {{tag|collateral}}. | ||
The Addendum also outlines how OTC swaps transactions will be closed out, rules for attaining a valuation of trades that have been terminated and what events will trigger liquidation. The document contains tax laws related to cleared {{tag|OTC derivatives}} trades. | The Addendum also outlines how {{tag|OTC}} swaps transactions will be closed out, rules for attaining a valuation of trades that have been terminated and what events will trigger liquidation. The document contains tax laws related to cleared {{tag|OTC derivatives}} trades. | ||
“The Addendum is an important milestone that will enable customers in the U.S. to access central clearing of OTC derivatives transactions efficiently through the use of market standard documentation,” [[ISDA]] chief executive officer Robert Pickel said in the statement. “It represents the collaborative efforts of a broad cross-section of market participants and marks another step forward." | |||
[[Moody’s]] Investors Service recently released a report predicting that the {{tag|OTC}} derivatives regulation pushing transactions of these securities into central clearing will increase demand for high-quality government bonds used for collateral in trades. | |||
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