What Is A Protocol Covered Agreement
The objective of the Protocol is to allow swap dealers who are parties to covered waiver agreements to include in those agreements an allocation of responsibilities in accordance with a provisional final rule of the CFTC issued on 30 April for compliance with obligations under the CFTC`s standards of conduct for external affairs. ISDA, fxC (Foreign Exchange Committee) and fmLG (Financial Markets Lawyers Group) have developed Annex A to the Protocol, which provides for the allocation of responsibilities between two registered swap dealers, as provided for in non-contentious relief. A QFC includes, but is not limited to, all swap agreements, commodity agreements or futures contracts and therefore generally includes any agreement for a transaction that would normally be governed by an ISDA framework agreement. .