DC Secretary - Credit Derivatives Provision
2014 ISDA Credit Derivatives Definitions
Section 1.9 in a Nutshell™
Use at your own risk, campers!
Full text of Section 1.9
Content and comparisons
The DC Secretary is responsible for various administrative tasks, including distributing questions submitted by eligible market participants to the relevant DC members, convening DC meetings, and publishing the results of DC votes. The DC secretary does not vote on whether credit events have occurred.
In October 2018 ISDA got out of the business of managing the Credit Derivatives Determinations Committee by spinning off DC Administration Services, Inc. to act as DC Secretary, a role ISDA performed since the DCs were established in 2009.
DCAS is managed by an independent board of directors and engage external service providers to perform certain administrative tasks such as Citadel SPV LLC who provides management support services.
ISD no longer participates in the DC process.