ISDA and IHS Markit Launch ISDA Amend 2.0 To Help Firms With New Margin Requirements

The new functionality will allow market participants to implement the new margin requirements for non-cleared derivatives.

The International Swaps and Derivatives Association (ISDA) and IHS Markit, a critical information, analytics and solutions provider, have today announced the launch of ISDA Amend 2.0.

ISDA Amend is a joint service provided by the two firms in which 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.

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Implementation of new Margining Requirements

The launch of ISDA Amend 2.0 includes new functionality which allows market participants to implement the new margin requirements for non-cleared derivatives. It also provides the ability for them to inform counterparties about elections they have made under the ISDA Resolution Stay Jurisdictional Modular Protocol (ISDA JMP).

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Commenting on the launch, Katherine Darras, ISDA’s General Counsel, said: “ISDA and IHS Markit have collaborated on ISDA Amend for over five years, and it has proved hugely successful in helping market participants gather and share data required by the Dodd-Frank Act and European Market Infrastructure Regulation (EMIR).”

She continued: “ISDA Amend 2.0 broadens that offering, and will help firms implement the non-cleared derivatives margin rules, as well as help market participants provide information to their counterparties and make elections related to their adherence to jurisdictional modules under the ISDA Resolution Stay Jurisdictional Modular Protocol.”

ISDA Amend 2.0 has been designed to manage the complexity of these multijurisdictional regulations.

ISDA Amend was launched in August 2012 as an online service developed by ISDA and IHS Markit and allows users of Counterparty Manager to amend multiple ISDA Master Agreements and share regulatory representations. It is a free subscription service for buy-side firms and corporates.

Darren Thomas, managing director and head of Counterparty Manager at IHS Markit added: “The sheer volume of documents, coupled with the disparate deadlines for posting initial and variation margin on uncleared derivatives, presents a huge challenge for global financial institutions. ISDA Amend 2.0 has been designed to manage the complexity of these multijurisdictional regulations. The service will leverage data provided through previous ISDA Amend protocols with full connectivity to IHS Markit’s end-to-end collateral repapering solution to digitize, negotiate and amend collateral agreements on Counterparty Manager.”

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