New rules adopted by the CFTC require a swap dealer to vet each counterparty, update documentation, and deliver notices and disclosures to each of its counterparties before each trade. In other words, thousands of swap dealers’ accounts are affected. The industry has deployed a uniform solution to streamline efforts surrounding this challenging task. ISDA and Markit have teamed up to create a standardized, electronically managed documentation and disclosure solution called the ISDA DF Protocol.
This FS Regulatory Brief provides a snapshot of participation rates for the ISDA DF Protocol and information about the protocol.