Isda publishes European LCDS protocol

The International Swaps and Derivatives Association has launched the 2008 European loan credit default swap (LCDS) update protocol.

The protocol is designed to amend transactions documented using the European LCDS standard terms supplement and form of confirmation published on July 30, 2007, to reflect the new templates published on March 12, 2008. Isda also says a protocol to facilitate cash settlement of European LCDS (single-name and index) is currently under development.

Ryan Davidson.

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