Counterparty ManagerISDA Amend

ISDA Amend is a joint service provided by Markit and the International Swaps and Derivatives Association, Inc. With ISDA Amend, swap dealers and their customers can classify their trading entities as well as amend and share multiple ISDA master agreements using a single online tool. This helps customers ensure compliance with new requirements related to Dodd-Frank and EMIR. ISDA Amend is provided to buyside users on a no fee basis.

Statistics

  • 51k+legal entities
  • 7.5k+buyside subscribers
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Product Summary

The ISDA Amend tool, built on the Markit Counterparty Manager platform enables dealers and their clients to centrally manage Know Your Customer (KYC) and Anti-Money Laundering (AML) documentation requirements as well as track and control counterparty access at the fund and account level.

ISDA Amend supports compliance with various Dodd-Frank and EMIR rulemakings, including the ISDA August 2012 and March 2013 Dodd Frank Protocols, the ISDA Cross Border Representation Letter and the EMIR Counterparty Classification Tool.

    Key Benefits

    • Reduce your costs

      Simple to use, online platform to upload, update and disseminate the counterparty documentation. Enables you to streamline back-office document management processes and reduce associated costs.

    • Easy access to counterparties

      Join this established and rapidly growing online community for effective access to broker/dealer, institutional investor and other trade counterparties.

    • Quicker time to market

      Facilitates the fast and efficient exchange of thousands of bilateral agreements. Standardised, automated collection and delivery of ISDA amendments significantly reduces the time taken currently to amend ISDA Master Agreements and establish new trading relationships.

    Dodd-Frank Compliance

    ISDA Amend for Dodd-Frank Compliance in 3 steps

    • 1

      Sign up

      Click through to sign up from Counterparty Manager

      Upload KYC/AML documents

    • 2

      Onboard

      Complete ISDA protocol adherence letter and part II of protocol questionnaire

      Identify participating accounts

    • 3

      Match

      Make representations, accept protocol schedule

      Fulfill Dodd-Frank Compliance obligations

    EMIR Compliance

    ISDA Amend for EMIR compliance in 3 steps

    • 1

      Sign up

      Click through to sign up from Counterparty Manager

    • 2

      Onboard

      Identify participating accounts

    • 3

      Match

      Classify accounts

    Cross Border Representation

    • Cross-Border Representation – US/Non US Person

      On July 26th 2013, the CFTC published an “Interpretive Guidance and Policy Statement Regarding Compliance with Certain Swap Regulations” providing guidance as to when the CFTC will assert jurisdiction over swap transactions that have a non-U.S. element. This allows market participants to provide counterparties with status representations needed to determine whether compliance with various CFTC swap regulations is required by the Interpretive Guidance.

    CFTC IM Segregation Right Notice

    • CFTC IM Segregation Right Notice

      In November 2013, the CFTC published Regulation 23.701, implementing requirements for swap dealers and major swap participants to notify counterparties of their right to require segregation of margin (other than variation margin) for uncleared swap transactions.

      The rule became effective on January 6, 2014. For market participants that became “new counterparties” of a swap dealer or major swap participant after that date (for example, by putting in place an ISDA Master Agreement to begin trading uncleared swaps), the relevant swap dealer or major swap participant must comply with the requirements by May 5, 2014. For market participants that were existing counterparties on or before January 6, 2014, the compliance date is November 3, 2014.

    Canadian Representation Letter #1

    • Canadian Representation Letter #1

      The Ontario Securities Commission (OSC), the Manitoba Securities Commission (MSC) and the Autorité des marchés financiers (AMF), respectively, published Rule 91-507 requiring “reporting counterparties” to report certain derivatives data to “designated” or “recognized” trade repositories with respect to transactions involving “local counterparties”. The OSC, MSC and AMF have also published companion policies. In these three jurisdictions, for trades involving a “clearing agency” or a Dealer, trade reporting begins on October 31, 2014 and, for trades that do not involve such entities, on June 30, 2015. The securities regulatory authorities in certain of the remaining provinces of Canada have indicated their intention to introduce substantially identical rules by way of a multi-lateral instrument. Canadian federally regulated financial institutions may become subject to similar federal or national rules, orders or directives.

      It is anticipated that other rules and instruments to be published and finalized by Canadian Regulators with respect to Derivatives will include a substantially equivalent definition of “local counterparty” to that in the TR Rules.

      This letter allows you to provide information needed to assess how Canadian Regulatory Requirements do or may apply to Transactions between counterparties.

    Webcasts

    • Cross Border Representation Demo

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    • Cross Border Representation Demo

      Demonstration of how to complete the online questionnaire to complete to Cross Border Representation/US Person Representation.

    • ISDA Amend Protocol I Demo

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    • ISDA Amend Protocol I Demo

      Demonstration of how to complete the online questionnaire to adhere to ISDA Amend Protocol I.

    • ISDA Amend Protocol II Demo

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    • ISDA Amend Protocol II Demo

      Demonstration of how to complete the online questionnaire to adhere to ISDA Amend Protocol II.

    • EMIR Demo

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    • EMIR Demo

      Demonstration of how to complete the online questionnaire to adhere to EMIR.

    • Canadian Representation Letter

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    • Canadian Representation Letter

    • CFTC Initial Margin Segregation

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    • CFTC Initial Margin Segregation