ISDA releases update protocol for European LCDS documentation template

By Laura Lutz

Des Moines, May 2 - International Swaps and Derivatives Association, Inc. (ISDA) announced the launch of the 2008 European Loan CDS (LCDS) Update Protocol.

The protocol is intended for amendment of deals documented using the European Loan CDS Standard Terms Supplement and the confirmation form to reflect new documentation templates that were published on March 12.

The original forms were published on July 30, 2007.

Both members and non-members can use the protocol. The adherence period runs until May 15.

A protocol for cash settlement of European LCDS (single-name and index) is under development, the ISDA said.

More information about the protocol is available on ISDA's web site, isda.org.

ISDA represents participants in the privately negotiated derivatives industry.

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