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Subjects / Capital

Newsletter Nov 2005: New protocol to reduce op risks gets strong response

Staff | February 21, 2007

NEW YORK – Participants in the booming credit derivatives market came a step closer in October to eliminating the back-office logjams that have raised considerable operational risk concerns among regulators. The International Swaps and Derivatives Association (ISDA), announced that over 700 “adherents” have signed up to its Novation Protocol. This protocol will help facilitate the transfer of an existing trade to a third party, a kind of transaction that is widely used by hedge funds.

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