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ANNEX 4

TO MARKITWIRE PROVISIONS AND END USER PROVISIONS


DATED

June 13, 2015

SINGLE NAME CREDIT DEFAULT


SWAPS
Contents

1. Definitions and Provisions .................................................................. 2

2. Transactions Covered ........................................................................ 15

3. MarkitWire Screen Template Definitions and Provisions ............... 16

4. MarkitWire Default Values and Further Provisions ......................... 79

SCHEDULE 1: General Default Values .......................................................... 91

SCHEDULE 2: Regional and Currency Default Values .............................. 100

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1 Definitions and Provisions
1.1 Documentation

1.1.1 ISDA Credit Derivatives Definitions


The definitions and provisions contained in the (i) 2003 ISDA Credit
Derivatives Definitions as supplemented by each of the May 2003
Supplement and the 2005 Matrix Supplement to the 2003 ISDA Credit
Derivatives Definitions (as so supplemented, the 2003 Definitions) or (ii)
2014 ISDA Credit Definitions (as supplemented, the 2014 Definitions and
together with the 2003 Definitions the Credit Definitions), each as
published by ISDA, are incorporated through the Contractual Definitions field
into any CDS Transaction entered by parties into MarkitWire and applied to
any references therein.

1.1.2 ISDA Master Agreement


Where ISDA has been selected by the parties as the Master Agreement Type
on the General Terms Template page, an ISDA Master Agreement governs
each Transaction. Each User agrees to each of the following provisions for
the benefit of MarkitWire and each relevant MarkitWire Participant.

1.1.3 Default Master Agreement


In the event that a particular ISDA Master Agreement is not designated as
governing a Transaction or if the designated Master Agreement does not exist
or cannot be used for such Transaction (a No Designated Master Agreement
Trade), and subject to the parties to that Transaction not having agreed
otherwise, the User hereby agrees that:

(a) the No Designated Master Agreement Trade constitutes a Transaction and


the Trade Affirmation for that No Designated Master Agreement Trade
constitutes a Confirmation (subject to Section 2.1) as referred to in the
Default Master Agreement (as defined below);

(b) if the User has entered into one or more ISDA Master Agreements with that
MarkitWire Participant, the Default Master Agreement shall be the most
recently dated applicable ISDA Master Agreement between them relevant
to that type of Transaction and any Confirmation entered into MarkitWire
since the date of such agreement shall supplement, form a part of, and be
subject to such agreement;

(c) if the User has not entered into any ISDA Master Agreement with the
MarkitWire Participant, the User and the MarkitWire Participant agree to use
their reasonable efforts promptly to negotiate, execute and deliver an ISDA
Master Agreement between them. Until the User and the MarkitWire
Participant execute and deliver the ISDA Master Agreement, the Trade
Affirmation for the No Designated Master Agreement Trade, the Trade

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terms of that Trade shall supplement, form a part of, and be subject to, an
agreement in the form of the ISDA Master Agreement (1992 Multicurrency-
Cross Border version). The ISDA Master Agreement (1992 Multicurrency-
Cross Border version) shall be the Default Master Agreement and will apply
as if the User and the MarkitWire Participant had executed an agreement in
such form (but without any schedule thereto except for the election of
English law as the governing law or the laws of the State of New York
without reference to choice of law doctrine where both parties are duly
organised and validly existing under such law by its organisation or
incorporation, or unless the parties expressly and specifically state
otherwise in writing) with US dollars as the Termination Currency on the
date of the first No Designated Master Agreement Trade between the User
and the MarkitWire Participant. In the event of any inconsistency between
the provisions of the Default Master Agreement and the Trade Affirmation,
the Trade Affirmation prevails for the purposes of that No Designated
Master Agreement Trade; and

(d) in the event that the parties later negotiate, execute and deliver an
agreement in the form of the ISDA Master Agreement (1992 Multicurrency-
Cross Border version) such agreement shall, following execution govern
any Transactions between the parties until such time as the parties enter
into a different or replacement ISDA Master Agreement and agree that such
ISDA Master Agreement is to govern such Transactions.

1.1.4 Credit Support


Where an ISDA Master Agreement has been executed by the parties and a
Credit Support Document such as a Credit Support Annex has also been
executed, such Credit Support Document will also apply in respect of
Transactions entered into via MarkitWire in accordance with its terms.

1.2 Manual Confirmation

For each bilaterally affirmed CDS Transaction submitted by the parties under the
Dealer-to-Dealer Load Service, the End User Dealer Affirmation Service or the
Novation Affirmation Service, the parties agree to produce the Confirmation manually
or that the Confirmation is performed outside the MarkitWire system (e.g. on another
automated confirmation and matching system). For such CDS Transactions, the
electronic record of the Transaction details should be treated as being for information
purposes only and normal post trade confirmation procedures should be applied by
the User or End User.

Further, notwithstanding anything to the contrary herein, if Trade Communications


relating to a Transaction are initiated by a Broker using the Broker Load Services,
then the Broker Trade Affirmation, the Trade Affirmation or the Broker Load Trade
and any resulting Trade Affirmation that is generated prior to matching by the User or
End User and its counterparty shall not represent a Trade Affirmation agreed by the
User or End User and its counterparty, but shall represent a notice of receipt that
should be treated as for informational purposes only; provided that if such Trade
Affirmation is submitted for the Reporting Service or Clearing Service as described in
the User Terms or the Organized Trading Venue Confirmation Service as described

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in the MarkitWire Provisions then the Trade Affirmation represents a confirmation for
purposes of the applicable Master Agreement.

1.3 Document Hierarchy


The hierarchy of the documents governing Transactions entered into MarkitWire in
order of precedence is as follows:

1. The Trade Affirmation sets out the economic terms of each individual
Transaction. Therefore the Trade Affirmation is first in the hierarchy and
prevail over the other documents.

2. These MarkitWire Provisions set out how the 2003 or 2014 Definitions, as
applicable, are incorporated within the MarkitWire system The MarkitWire
Provisions do not modify the meaning of any ISDA defined terms or provisions
with the following exceptions:

i. Where the Credit Event Occurrence Timezone field contains the identifier of a
Business Centre, the selection indicates that the Credit Event Occurrence
Timezone will be the local time applicable in the Business Centre specified.
As such, references to Greenwich Mean Time in Section 3.3 of the 2003
ISDA Credit Derivatives Definitions should be replaced with references to
local time applicable in the Business Centre specified; and

ii. Where a Physical Settlement Period Type of Capped has been selected
(see Settlement Terms Template page), the provisions of Section 8.6 of the
2003 ISDA Credit Derivatives Definitions apply but are modified such that in
no event will the Physical Settlement Period exceed the number of days
specified in the Physical Settlement Period Days field on the Settlement
Terms Template page.

iii. Certain Obligation(s) of certain Reference Entities shall be Excluded


Obligations for the purposes of the CDS Transaction as defined in this
Annex.

The MarkitWire Provisions may, however:

(a) reduce or expand the number of choices available to the User from the full
range of choices as specified in the Credit Definitions to a number of choices
which are supported by MarkitWire.

(b) explain how certain Credit Definitions defined terms and provisions are
determined for the purposes of Transactions.

In the event of any inconsistency between the MarkitWire Provisions and the
Contractual Definitions other than as described above, the Contractual Definitions
will prevail.

3. The applicable Master Agreement is the agreement entered into by the


parties. It sets out the relationship between the parties in respect of the Credit
Derivative Transactions and prevails over the User Terms or Service
Operating Procedures, as applicable, in the event of any inconsistency.

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4. The User Terms or Service Operating Procedures, as applicable, set out the
relationship between the parties using MarkitWire. The User Terms or
Service Operating Procedures, as applicable, are generic and apply to all
parties; therefore they are last in the document hierarchy applicable to
Transactions entered into MarkitWire.

1.4 Counterparty Names


Counterparty Entity names that are shown on the Main Template page (Section 3.1)
state the relevant legal name of MarkitWire Participants. Each authorised employee
has authority to act on behalf of that MarkitWire Participant in accordance with the
User Terms.

The fields shall also specify the particular Branch, if any, through which the
MarkitWire Participant is acting. Where an authorised employee is able to deal on
behalf of more than one MarkitWire Participant, the authorised employee has the
option to select the relevant name from a list set up and maintained by the
administrator.

Where the MarkitWire Participant through which the authorised employee is acting
has Branches, the User is required to ensure that both the full legal name of the legal
entity and the Branch are displayed on the Main Template page. This will be
effected through appropriate User administration configuration.

1.5 Reference Entity, Reference Obligation and


Excluded Obligation Data
MarkitWire will allow, subject to appropriate configuration and permissioning,
authorised employees to access CUSIP-linked MIP codes provided through the
Mark-it Pairs and Mark-it Entities reference data (RED) services provided by
Markit Group Ltd.

Users and End Users should note that access to this data on the MarkitWire System
is only provided once suitable agreement has been reached between the User and
Markit Group Ltd, and such agreement has been communicated to MarkitWire by
Markit Group Ltd Access to the foregoing data may be terminated by MarkitWire at
any time.

MarkitWire will allow, subject to appropriate configuration and permissioning,


authorised employees to access other information as they are provided by the User
or by any other third party through databases on the MarkitWire System, from time to
time.

The User or End User agrees that the foregoing data is made available for its
internal use only and that the User or End User is prohibited from re-distributing,
transferring or disclosing any of the foregoing data to any third party, in whole or
part, in any form or by any means, except as specifically permitted by the data
provider.

MarkitWire makes no representations or warranties as to the suitability of this data


for any particular CDS Transaction and the User agrees that MarkitWire shall have

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no liability whatsoever for any errors, omissions or inaccuracies contained within the
RED reference data or any other data on the MarkitWire System.

No third party data provider (including without limitation Markit Group Ltd) make any
representation or warranty as to the suitability of the data for any particular CDS
Transaction. The User or End User further agrees that no third party data provider
(including without limitation Markit Group Ltd) makes any representations or
warranties as to, or shall have any liability whatsoever whether in contract, tort
(including, but not limited to, negligence) or otherwise (i) in relation to, the quality,
fitness for purpose, completeness or accuracy of the data, (ii) for any errors,
omissions or inaccuracies contained within the RED reference data or any other data
on the MarkitWire System or (iii) for any loss or damage arising out of or in
connection with the use of the data or any indirect or consequential loss or loss of
profits, business, revenue or contracts. In addition, the User agrees that it is subject
to any legends, disclaimers, and notices appearing from time to time in the foregoing
data. The User or End User agrees to extend rights under the Contracts (Rights of
Third Parties) Act 1999 to the relevant third party as required to allow the relevant
third party to utilize this provision.

At all times it remains the responsibility of the User to ensure that the values
contained within each field on each Template page are consistent with the
authorised employees intentions with respect to the CDS transaction.

1.5.1 Reference Entity


Reference Entity names that are shown on the Main Template page and RE/RO
Template page state the relevant full legal name of the Reference Entity.

Where there is a contradiction between the (Proposed) Reference Entity Name


and the RED Identifier, the (Proposed) Reference Entity Name will take
precedence.

1.5.2 Reference Obligation


Reference Obligation identifiers that are shown on the Main Template page and
RE/RO Template page show the appropriate CUSIP or ISIN code for the
Reference Obligation.

Where there is a contradiction between the (Proposed) Reference Obligation


Identifier Type/Value combination and the RED Identifier, the (Proposed)
Obligation Identifier Type/Value combination will take precedence.

Furthermore, where there is a contradiction between the (Proposed) Reference


Obligation Identifier Type/Value combination and the RED Identifier, the
(Proposed) Obligation Identifier Type/Value combination will take precedence.

1.5.3 Excluded Obligations


If the Reference Entity is the Republic of Hungary, the Additional Provisions for
the Republic of Hungary published on August 13, 2004 on ISDAs website,
www.isda.org, are automatically incorporated into the CDS Transaction.

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If the Reference Entity is the Russian Federation, the Additional Provisions for
the Russian Federation published on August 13, 2004 on ISDAs website,
www.isda.org, are automatically incorporated into the CDS Transaction.

1.6 Trade Date and Scheduled Termination Date

1.6.1 Trade Date


The relevant Trade Date of any Transaction entered into MarkitWire shall be the
date when a complete CDS Transaction is first agreed. In the event that the
parties amend a Transaction the Trade Date shall not change.

1.6.2 Scheduled Termination Date


Unless indicated on the General Terms Template page (Section 3.2) the final
Fixed Rate Payer Calculation Period will end on, and include, the earlier to occur
of the Scheduled Termination Date and the Event Determination Date and the
Scheduled Termination Date shall not be subject to adjustment in accordance
with any Business Day Convention.

In the event that the Adjust Scheduled Termination Date Indicator (General
Terms Page (Section 3.2)) has been Ticked, the Scheduled Termination Date will
be adjusted in accordance with the Business Day Convention and Business Days
as specified on the General Terms Template page (Section 3.2).

1.7 Calculation Agent

1.7.1 Calculation Agent for a CDS Transaction


The Calculation Agent for the purposes of a CDS Transaction shall be
determined by reference to the Calculation Agent field (General Terms Template
page), selection contained therein identifying which of the parties shall assume
the role of Calculation Agent.

1.8 Fixed Rate Payer Calculation Periods


The Fixed Rate Payer Calculation Periods for a CDS Transaction entered into
MarkitWire are determined using a number of parameters held within the CDS
Transaction Template, namely:

the Start Date and the End Date on the Main Template page (Section 3.1);
the Fixed Payment Frequency (Section 3.1);
the Stub At field value on the Fixed Payments Template page (Section 3.3);
the Stub Type field value (Section 3.3);
the Month End Rolls Indicator (Section 3.3); and
the Adjust Scheduled Termination Date Indicator stated on the General Terms
Template page (Section 3.2).

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For MarkitWire purposes, the Fixed Rate Payer Payment Dates fall on the last day of
each relevant Fixed Rate Payer Calculation Period (and on the Upfront Fee Payment
Dates, if applicable) provided that, if an Event Determination Date occurs, the earlier
of the Termination Date and the first Settlement Date with respect to the Credit Event
to which such Event Determination Date relates, shall be the final Fixed Rate Payer
Payment Date.

Where the Term of the CDS Transaction is an integer multiple of the Fixed Payment
Frequency period then Standard Fixed Rate Payer Calculation Periods shall apply:
the Fixed Rate Payer Period End Dates shall be each date falling one Fixed
Payment Frequency period after the previous Fixed Rate Payer Period End Date,
starting on the date falling one Fixed Payment Frequency period after the Effective
Date and ending in accordance with Section 4.4.2. For example:

Start Date: 20 June 2014


End Date: 20 June 2019
Fixed Payment Frequency: 3m (3 months)
In the above example Standard Fixed Rate Payer Calculation Periods shall apply
because the Term is exactly 5 years which divides evenly into 3 month periods with
no remainder, and the Fixed Rate Payer Period End Dates shall be the 20th day (the
Roll Day, see Section 3.3) of each month of March, June, September, and
December from, and including, 20 September 2014 to, and including, 20 June 2019.

If the terms of the above example were changed to either:


Start Date: 13 May 2014
End Date: 20 June 2019
Fixed Payment Frequency: 3m (3 months)
or:

Start Date: 20 June 2014


End Date: 1 June 2019
Fixed Payment Frequency: 3m (3 months)
then Standard Fixed Rate Payer Calculation Periods shall not apply. In both cases,
the Term of the CDS Transaction is not an exact integer multiple of the Fixed
Payment Frequency period and, therefore, a Stub Period is deemed to exist.

For any CDS Transaction entered into MarkitWire, a Stub Period may only exist at
the beginning or the end of the CDS Transaction, but not both.

1.9 Determination of Stub Periods


A Stub Period exists if the Term of the CDS Transaction is not an integer multiple
of the Fixed Payment Frequency period. If the day of the month of the End Date
is different to the day of the month of the Start Date then a Stub Period will also
exist except where:

a) Month End Rolls (Section 3.3) have been selected and the Start Date falls on
or after the last Business Day of the month and the End Date is the last calendar
day of the month.

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b) Month End Rolls have not been selected, but due to fewer days occurring in
the End Date month compared to the Start Date month, the day of the month of
the Start Date does not have a numerical equivalent in the End Date month but
the End Date is still the last calendar day of the month.

Any applicable Stub Period relevant to a CDS Transaction will be the first Fixed
Rate Payer Calculation Period at the start of the CDS Transaction when the value
in the Stub At field (see Fixed Payments Template page (Section 3.3)) is Start.
Conversely, the Stub Period will be the last Fixed Rate Payer Calculation Period
at the end of the CDS Transaction when the value in the Stub At field is End.

IF THE STUB PERIOD IS AT START OF THE CDS TRANSACTION

To ascertain the Stub Period when it is Short:

The Stub Period will be short when the MarkitWire system determines that a Stub
Period is applicable (indicated by the Fixed Payment Stub Indicator on the Main
Template page (Section 3.1) displaying a value of Ticked) and the value in the
Stub Type field (see Fixed Payments Template page (Section 3.3)) is Short. In
this case:

Subtract multiples of the Fixed Payment Frequency period from the End Date
until subtracting one more Fixed Payment Frequency period would result in a
date earlier than the Effective Date and this will identify the end date of the Stub
Period (the First Regular Fixed Rate Payer Payment Date). The end date of the
Stub Period is displayed in the First Fixed Rate Payer Payment Date field on the
Fixed Payments Template page (Section 3.3).

If the Stub Period is at the Start of a CDS Transaction and the Stub Period is
Short, the Fixed Rate Payer Period End Dates shall be:

(i) the dates (bearing the same calendar number (the Roll Day) as the
Scheduled Termination Date without, for the purpose of determining the
calendar number of the Scheduled Termination Date, having regard to any
Business Day Convention applicable to the CDS Transaction - see Section
3.3), falling one Fixed Payment Frequency period after the previous Fixed
Rate Payer Period End Date, starting on the First Regular Fixed Rate Payer
Payment Date and ending in accordance with Section 1.8;

(ii) unless Month End Rolls is selected in which case the Fixed Rate Payer
Period End Dates shall be the last calendar day of each month falling one
Fixed Payment Frequency period after the previous Fixed Rate Payer Period
End Date, starting the month of the First Regular Fixed Rate Payer Payment
Date and ending in accordance with Section 1.8.

To ascertain the Stub Period when it is Long:

The Stub Period will be long when the MarkitWire system determines that a Stub
Period is applicable (indicated by the Fixed Payment Stub Indicator on the Main
Template page (Section 3.1) displaying a value of Ticked) and the value in the
Stub Type field (see Fixed Payments Template page (Section 3.3)) is Long. In
this case:

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Subtract multiples of the Fixed Payment Frequency period from the End Date
until subtracting one more Fixed Payment Frequency period would result in a
date earlier than the Start Date and then add one Fixed Payment Frequency
period to ascertain the end date of the Stub Period (the First Regular Fixed Rate
Payer Payment Date). The end date of the Stub Period is displayed in the First
Fixed Rate Payer Payment Date field on the Fixed Payments Template page
(Section 3.3).

If the Stub Period is at the Start of a CDS Transaction and the Stub Period is
Long, the Fixed Rate Payer Period End Dates shall be:

(i) the dates (bearing the same calendar number (the Roll Day) as the
Scheduled Termination Date without, for the purpose of determining the
calendar number of the Scheduled Termination Date, having regard to any
Business Day Convention applicable to the CDS Transaction - see Section
3.3), falling one Fixed Payment Frequency period after the previous Fixed
Rate Payer Period End Date, starting on the First Regular Fixed Rate Payer
Payment Date and ending in accordance with Section 1.8;

(ii) unless Month End Rolls is selected in which case the Fixed Rate Payer
Period End Dates shall be the last calendar day of each month falling one
Fixed Payment Frequency period after the previous Fixed Rate Payer Period
End Date, starting the month of the First Regular Fixed Rate Payer Payment
Date and ending in accordance with Section 1.8.

IF THE STUB PERIOD IS AT END OF THE CDS TRANSACTION

To ascertain the Stub Period when it is Short:

The Stub Period will be short when the system determines that a Stub Period is
applicable (indicated by the Fixed Payment Stub Indicator on the Main Template
page (Section 3.1) displaying a value of Ticked) and the value in the Stub Type
field (see Fixed Payments Template page (Section 3.3)) is Short. In this case:

Add multiples of the Fixed Payment Frequency period to the Effective Date until
adding one more Fixed Payment Frequency period would result in a date later
than the End Date and this will identify the start date of the Stub Period (the Last
Regular Fixed Rate Payer Payment Date). The start date of the Stub Period is
displayed in the Last Regular Payment Date field on the Fixed Payments
Template page (Section 3.3).

If the Stub Period is at the End of a CDS Transaction and the Stub Period is
Short, the Fixed Rate Payer Period End Dates shall be:

(i) the dates (bearing the same calendar number (the Roll Day) as the
Effective Date without, for the purpose of determining the calendar number
of the Effective Date, having regard to any Business Day Convention
applicable to the CDS Transaction - see Section 3.3), falling one Fixed
Payment Frequency period after the previous Fixed Rate Payer Period
End Date, starting on the date falling one Fixed Payment Frequency
period after the Effective Date and ending on the Last Regular Fixed Rate
Payer Payment Date;

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(ii) unless Month End Rolls is selected in which case the Fixed Rate Payer
Period End Dates shall be the last calendar day of each month falling one
Fixed Payment Frequency period after the previous Fixed Rate Payer
Period End Date, starting the month of the date falling one Fixed Payment
Frequency period after the Effective Date and ending on the Last Regular
Fixed Rate Payer Payment Date;

(iii) and (whether or not Month End Rolls is selected), the Scheduled
Termination Date;

unless an Event Determination Date occurs in which case the last Fixed Rate
Payer Period End Date shall be such Event Determination Date.

To ascertain the Stub Period when it is Long:

The Stub Period will be long when the system determines that a Stub Period is
applicable (indicated by the Fixed Payment Stub Indicator on the Main Template
page (Section 3.1) displaying a value of Ticked) and the value in the Stub Type
field (see Fixed Payments Template page (Section 3.3)) is Long. In this case:

Add multiples of the Fixed Payment Frequency to the Effective Date until adding
one more Fixed Payment Frequency period would result in a date later than the
End Date and then subtract one Fixed Payment Frequency period to ascertain
the start date of the Stub Period (the Last Regular Fixed Rate Payer Payment
Date). The start date of the Stub Period is displayed in the Last Regular
Payment Date field on the Fixed Payments Template page (Section 3.3).

If the Stub Period is at the End of a CDS Transaction and the Stub Period is
Long, the Fixed Rate Payer Period End Dates shall be:

(iv) the dates (bearing the same calendar number (the Roll Day) as the
Effective Date without, for the purpose of determining the calendar number
of the Effective Date, having regard to any Business Day Convention
applicable to the CDS Transaction - see Section 3.3), falling one Fixed
Payment Frequency period after the previous Fixed Rate Payer Period
End Date, starting on the date falling one Fixed Payment Frequency
period after the Effective Date and ending on the Last Regular Fixed Rate
Payer Payment Date;

(v) unless Month End Rolls is selected in which case the Fixed Rate Payer
Period End Dates shall be the last calendar day of each month falling one
Fixed Payment Frequency period after the previous Fixed Rate Payer
Period End Date, starting the month of the date falling one Fixed Payment
Frequency period after the Effective Date and ending on the Last Regular
Fixed Rate Payer Payment Date;

(vi) and (whether or not Month End Rolls is selected), the Scheduled
Termination Date;

unless an Event Determination Date occurs in which case the last Fixed Rate
Payer Period End Date shall be such Event Determination Date.

If, as a result of the application of provisions set out in this Annex, the Fixed Rate
Payer Period End Date which is calculated does not exist (i.e. the Roll Day is

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expressed to have a greater numerical value than that of the last day of the
relevant calendar month), that Fixed Rate Payer Period End Date shall be
deemed to be the last calendar day of the month in question.

All Fixed Rate Payer Payment Dates shall be adjusted in accordance with the
Business Centres and Business Day Conventions applicable to the CDS
Transaction (see Section 3.2).

1.10 Cancellations
Parties can agree to cancel a Transaction entered into MarkitWire as set out in the
Cancellation Fee Template page.

For the purposes of MarkitWire the date on which the parties agree to end their
obligations under the Transaction is the Cancellation Effective Date and is specified
in the Cancellation Effective field on the Cancellation Template page. Any
Cancellation Fee due in respect of such cancellation will be paid on the Date as
stated on the Cancellation Fee Template page. If the parties select Manual
Confirmation as applying to the cancellation of a Transaction, the parties agree that
a manual Confirmation needs to be created and executed in respect of the
cancellation.

Unless the parties agree otherwise, for example in the case of a novation, the
cancelled Transaction shall be terminated and cancelled with effect from and
including the Cancellation Effective Date and all rights, duties, claims and obligations
of the parties there under shall be released and discharged with effect from and
including the Cancellation Effective Date without prejudice to any rights, duties,
claims and obligations which arose prior to and on the Cancellation Effective Date.
The parties shall still be liable to make any payments that are due and payable under
the Transaction on the relevant Cancellation Effective Date. In addition, the date
and method of payments due, where applicable, between the Cancellation Effective
Date and the Date that the Cancellation Fee is due to be paid on shall be subject to
negotiation between the parties. The parties shall also be liable for any Cancellation
Fee that is due and payable on such Date.

1.11 Amendments
Parties can agree to amend a Transaction entered into MarkitWire. The date on
which they agree to amend their rights and obligations on the Transaction is the
Amendment Effective Date which is specified in the Amendment Effective field on
the Additional Template page. Any additional payments due in respect of such
amendment shall be made on the Date relevant to that additional payment stated on
the Additional Payment Template page.

The amended Transaction shall be amended with effect from and including the
Amendment Effective Date and all rights, duties, claims and obligations of the parties
thereunder shall be amended with effect from and including the Amendment
Effective Date without prejudice to any rights, duties, claims and obligations, which
arose prior to and on the Amendment Effective Date.

The parties will still be liable to make any payments that are due and payable under
the Transaction up to and including the relevant Amendment Effective Date pursuant

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to the terms of the Transaction prior to the amendment. The parties shall also be
liable to make any payments under the Transaction that are due and payable after
the relevant Amendment Effective Date pursuant to the terms of the amended
Transaction and liable for any additional payment that is due and payable as a result
of the amendment.

1.11.1 Legal Entity Amendments


During the amendment process parties will be able, subject to bilateral
agreement, to amend both their own legal entity and the legal entity of the other
party to the Transaction, in the event that one or other of the legal entities had
been incorrectly selected. In each case the list of available legal entities will be
restricted to the relevant legal entities for that User. Unless explicitly agreed
otherwise between the parties, legal entity changes for the purposes of
MarkitWire will be regarded as amendments, not novations or assignments.
Following any such amendment, the original details of the Transaction will be
superseded and replaced in all respects by the revised Transaction details.

1.12 Exits

Parties can agree to indicate in the MarkitWire system their intention to terminate or
modify the terms of a Transaction outside of the MarkitWire system. This intention is
identified through the use of the Contract State (See Section 3.1 Main Contract
State) of Exit. The indication of any such mutual intent will be recorded on the
MarkitWire system but by itself such indication will have no effect on the legal status
of the Trade Affirmation.

1.13 Introducing Broker Relationship


Within the MarkitWire system, it is possible to capture and reflect an introducing
broker relationship between the legal entities within a bank.

Each party is able to insert their own wording to reflect the legal entity that is bound
to the Transaction and the legal entity that is acting as introducing broker. Where an
introducing broker relationship has been defined within the system, that party to the
Transaction is represented in accordance with the wording entered by the relevant
party. For example:

Legal Entity A (introduced by Legal Entity B acting as agent).

In this case, Legal Entity A is the legal entity that is bound to the Transaction and
Legal Entity B is the legal entity that is acting as introducing broker. In this regard
Legal Entity A has authorized Legal Entity B, inter alia, to negotiate and enter into
Transactions on its behalf, and additionally to issue and receive, on its behalf,
affirmations in respect of such Transactions.

Additionally, Legal Entity A understands, acknowledges and agrees that such


Transactions shall be entered into in the name of Legal Entity A and for its account
and risk, to the same extent and with the same force and effect as if Legal Entity A
had entered into such Transactions directly.

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2 Transactions Covered
In MarkitWire Users and End Users are able to record vanilla single name credit
default swap Transactions (CDS Transactions).

References to a CDS Transaction shall be deemed to be references to a Credit


Derivative Transaction as defined in the applicable ISDA definitions.

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3 MarkitWire Screen Template Definitions and
Provisions
This Section defines in detail the terms contained within the relevant Templates.

Where the Product Type selected is CDS, the User or End User is required to
instigate a search of approved data sources (permissioned by User) to populate the
Ref Entity Name, Jurisdiction and Region fields on the Compose New Deal screen.

Searches can be effected on a number of fields, however ALL returned options are
drawn from data sources approved for that authorised employee. Having selected a
Reference Entity (RE) (without a Reference Obligation (RO)) or Reference
Entity/Reference Obligation (RE/RO) pair, the Currency and Docs (Docs Type)
fields on the Compose New Deal screen are defaulted based on this selection.
Specifically, the Currency and Docs fields are populated based on the Reference
Entity Type and the Reference Entity Regions. The Defs field will default to 2014
ISDA Credit.
The Tenor field is defaulted to the value 5Y. This value can be changed by the
authorised employee making a selection from a drop down list of choices.

Note that the values for Currency, Docs and Defs on the Compose New Deal screen
can be overwritten by the authorised employee. Typically:

The Defs field will default to 2014 ISDA Credit however the authorised employee
can select 2003 ISDA Credit or 2006 ISDA if required;

The Docs field will default to a value determined from the combined values of the
Reference Entity Type and Region associated with the Reference Entity within
the approved data source from which the Reference Entity was derived. The
authorised employee is able to select an alternative value should this be
appropriate to the CDS Transaction; and

The Currency field will default to a value determined by the Reference Entity
Type and the Region associated with the Reference Entity within the approved
data source from which the Reference Entity was derived. The authorised
employee is able to select an alternative value should this be appropriate to the
CDS Transaction.

The values for Currency, Docs and Defs on the Compose New Deal screen drive the
population of the default values for the Screen Terms on each Template page as set
out in Schedule 2 to this Annex.

Where the authorised employee elects to change the value of any of the Currency,
Docs and Defs fields on the Compose New Deal screen, MarkitWire will not prevent
such action nor in any way validate whether such action is appropriate. It is the
responsibility of the User or End User to ensure that the values contained within
each field on each Template page are consistent with the authorised employees
intention with respect to the relevant CDS Transaction.

16

Annex 4
3.1 Main

Field Options
Screen Term Meaning
/Selections

Template Calculated Automatically


This field specifies the central MarkitWire Template populated by the
for the CDS Transaction upon which the particular MarkitWire system.
Template is based for example, CDS Europe Corp
USD 10y.
This field is for information purposes only.

Contractual Mandatory 2003 ISDA Credit,


Definitions This field is read only and specifies whether the 2014 ISDA Credit
2003 ISDA Credit Derivatives Definitions, the 2014 or
ISDA Credit Derivatives Definitions or the 2006 2006 ISDA
ISDA Definitions are incorporated into the
Transaction.

Contract State Calculated Automatically


This field specifies whether the CDS Transaction populated by the
has a Contract State of New, New-Novation, New- MarkitWire system
Allocation, PrimeBrokered, New-PrimeBrokered,
Amended, Cancelled, Novated, Allocated or Exit.
New The CDS Transaction is in the process of
being affirmed, or has been affirmed.
New-Novation The CDS Transaction is in the
process of being affirmed, or has been affirmed.
The CDS Transaction is a New Transaction arising
from a novation.
New-Allocation The CDS Transaction is in the
process of being affirmed, or has been affirmed.
The CDS Transaction is an allocation arising from
a previously affirmed block trade.
PrimeBrokered The Transaction is a Prime
Brokerage Give-Up Trade as defined in the Annex
to the User Terms or Service Supplement to the
Service Operating Procedures, as applicable,
describing the Prime Brokerage Give-Up Services
and is in the process of being affirmed for the first
time, or has been affirmed.
New-PrimeBrokered The Transaction is a
Second Pending Prime Brokerage Give-Up
Affirmation as defined in the Annex to the User
Terms or Service Supplement to the Service
Operating Procedures, as applicable, describing
the Prime Brokerage Give-Up Services and is in
the process of being affirmed for the first time, or
has been affirmed.
Amended Post affirmation the CDS Transaction
is in the process of being Amended or has been

17

Annex 4
Field Options
Screen Term Meaning
/Selections
Amended.
Amended-Clearing Post affirmation the
Transaction is in the process of being Amended or
has been Amended and sent to Clearing or has
been Cleared.
Cancelled Post affirmation the CDS Transaction
is in the process of being Cancelled or has been
Cancelled.
Novated Post affirmation the CDS Transaction is
in the process of being novated or has been
novated. The CDS Transaction is the Old
Transaction in a novation.
Allocated Post affirmation the CDS Transaction is
in the process of being allocated, or has been
allocated. The CDS Transaction is the block trade.
Exit Post affirmation the CDS Transaction is in
the process of being Exited, or has Exited from
MarkitWire.

Trade Date Mandatory Standard date


This field specifies the Trade Date of the CDS selection field
Transaction.
The default Trade Date will be the current business
date (the machine date of the participant initially
booking the CDS Transaction).
The Trade Date must fall on or before the Start
Date and not fall after the current business date
(the machine date of the participant booking the
CDS Transaction).

Broker See Section MarkitWire Provisions Section 6.4


Internal Data Broker.

Book See MarkitWire Provisions Section 6.4 Internal


Data Book.

Tenor Mandatory Combination:


This field specifies the Term of the CDS Years: any integer
Transaction. between 0 and 999.
A User or End User may alternatively insert a date Appears as, e.g.,
in the End Date field in the Fixed Payments 10y.
Template page, in which case this field will state Months: 1m, 2m,
broken. In such cases the Term of the 3m, 4m, 5m, 6m,
Transaction shall be the period starting on and 7m, 8m, 9m, 10m,
including the specified Start Date (Effective Date) and 11m.
(See Fixed Payments Template page) to and
including the Termination Date (See Fixed
Payments Template page).

Start Date See Section 3.3 Fixed Payments Start Date

18

Annex 4
Field Options
Screen Term Meaning
/Selections

End Date See Section 3.3 Fixed Payments End Date

Counterparty Mandatory Counterparty


Entity This field specifies the full legal name of the default legal entity
MarkitWire Participant that is the counterparty to name
the Transaction and it is that party which shall be
bound to the terms of the CDS Transaction.
Where the MarkitWire Participant through which
the authorised employee is acting has several
offices (Branches), the User or End User is
required to ensure that both the full legal name of
the legal entity and the Branch are presented to
both the User or End User and the MarkitWire
Participant. This will be effected through
appropriate administration configuration. The
MarkitWire Participant acting through Branches is a
Multibranch Party, each Branch constitutes an
Office of such party and Section 10(a) of the
applicable ISDA Master Agreement shall apply,
unless expressly stated otherwise in the Schedule
to the applicable ISDA Master Agreement.

Counterparty Mandatory Buy or


Buy/Sell This field specifies whether the Counterparty buys Sell
Direction credit protection or sells credit protection.
In ISDA terminology, the buyer of protection is
known as the Fixed Rate Payer and the seller of
protection is known as the Floating Rate Payer.
The value in this field will always be opposite to
that contained in the field My Entity Buy/Sell
Direction elsewhere on this Template page.

My Entity Mandatory User or End User


This field specifies the full legal name of the User default legal entity
or End User for whom the authorised employee is name selected by
acting (and where applicable, the Office through User or End User
which that User is acting) and it is that party which from a drop down
shall be bound to the terms of the CDS list of choices as
Transaction. The field is automatically populated, permitted by the
however it should be noted that where an administrator
authorised employee is able to deal for more than
one User or End User, such authorised employee
may select a User or End User from a list set up
and maintained by the administrator.
Where the User or End User through which the
authorised employee is acting has several
Branches, the User or End User is required to
ensure that both the full legal name of the legal
entity and the Branch are presented to both the
User or End User and the MarkitWire Participant.
This will be effected through appropriate

19

Annex 4
Field Options
Screen Term Meaning
/Selections
administration configuration.

Reference See Section 3.8 RE/RO Comparison Proposed


Entity Name (Proposed) Reference Entity Name

Reference See Section 3.8 RE/RO Comparison Proposed


Entity Role (Proposed) Reference Entity Role

Reference See Section 3.8 RE/RO Comparison Proposed


Entity/Referenc (Proposed) Reference Entity/Obligation Source
e Obligation
Source

Reference See Section 3.8 RE/RO Comparison Proposed


Obligation (Proposed) Reference Obligation Maturity Date
Maturity Date

Reference See Section 3.8 RE/RO Comparison Proposed


Obligation (Proposed) Reference Obligation Coupon Rate
Coupon Rate

Reference See Section 3.8 RE/RO Comparison Proposed


Obligation (Proposed) Reference Obligation ISIN/CUSIP
Identifier Type Identifier Type

Reference See Section 3.8 RE/RO Comparison Proposed


Obligation (Proposed) Reference Obligation ISIN/CUSIP
Identifier Value Identifier Value

Calculation Mandatory Decimal input in


Amount This field specifies the amount ascribed to both the range 0.01 to
Fixed Rate Payer Calculation Amount and the 999,999,999,999.9
Floating Rate Payer Calculation Amount of the 9
CDS Transaction. Keyboard shortcuts
In cases where a Broker has submitted the CDS are available
Transaction and the CDS Transaction has been
accepted by both sides, the Calculation Amount
cannot be changed prior to the CDS Transaction
being affirmed for the first time.

Currency Mandatory Refer to Section


This field specifies the relevant currency ascribed titled. Available
to both the Fixed Rate Payer Calculation Amount Business Centres
and the Floating Rate Payer Calculation Amount and Currencies
for the CDS Transaction. (Only one option
can be selected.)

My Entity Mandatory Buy or


Buy/Sell This field specifies whether the User or End User Sell
Direction buys credit protection or sells credit protection.
In ISDA terminology, the buyer of protection is
known as the Fixed Rate Payer and the seller if
protection is known as the Floating Rate Payer.

20

Annex 4
Field Options
Screen Term Meaning
/Selections
The value in this field will always be opposite to
that contained in the field Counterparty Entity
Buy/Sell Direction elsewhere on this Template
page.

Restructuring See Section 3.5 Credit Events Restructuring.

Calculation Mandatory
Agent City This field specifies the calculation agent city of a
CDS Transaction.
GBLO if the Transaction Type displayed is
Standard Sukuk Corporate, Standard Sukuk
Sovereign, ISDA 2004 Standard Credit Sovereign
Western European, Standard Singapore
Corporate, Standard Singapore Financial,
Standard Singapore Sovereign, Standard Asia
Corporate, Standard Asia Financial, Standard Asia
Sovereign, Standard New Zealand Corporate,
Standard New Zealand Financial, Standard New
Zealand Sovereign, Standard Australia Corporate,
Standard Australia Financial, Standard Australia
Sovereign, Standard Emerging European and
Middle Eastern Sovereign, Standard Emerging
European Corporate LPN, Standard European
Corporate, Standard European Financial, Standard
Western European Sovereign, Standard
Subordinated European Insurance Corporate,
Standard Emerging European Corporate, ISDA
2004 Standard Credit Sovereign Asia, ISDA 2003
Standard Credit Singapore, ISDA 2003 Standard
Credit Australia New Zealand, ISDA 2004 Standard
Credit Sovereign Emerging European And Middle
Eastern

JPTO if the Transaction Type displayed is ISDA


2004 Standard Sovereign Japan, ISDA 2003
Standard Credit Japan, Standard Japan Sovereign,
Standard Japan Financial, Standard Japan
Corporate

3 USNY if the Transaction Type displayed is


Standard Latin America Sovereign, Standard
Latin America Corporate Bond Or Loan, ISDA
2004 Standard Credit Sovereign Latin
American, Standard Latin America Corporate
Bond, Standard North American Corporate

Business Days Conditional Mandatory (read-only when displayed) Refer to MarkitWire


Provisions Section
This field specifies the Business Days for the CDS 3. Holiday
Transaction. This field is for informational Centres/
purposes only. Currencies
Supported. There
is no limit on the

21

Annex 4
Field Options
Screen Term Meaning
/Selections
number of options
from the drop down
list that can be
selected

Fixed Rate Mandatory Numeric input


expressed as a %
This field specifies the Fixed Rate of the CDS in the range
Transaction agreed between the parties.
0% to
999.999999%

Upfront Fee See Section 3.3 Fixed Payments Upfront Fee


Indicator Indicator.

Non Standard Optional Ticked or


Defaults A permissionable field that specifies whether the Un-Ticked
Indicator authorised employee should be allowed to override
any market regional default, i.e. to override any
read-only data on the remaining tabs.

Fixed Payment Read only. Automatically


Stub Indicator populated by the
This field specifies whether the CDS Transaction MarkitWire system
has a stub period based on information provided in
the Template (and as specified in Section 4.6).

Roll Day See Section 3.3 Fixed Payments Roll Day.

First Fixed See Section 3.3 Fixed Payments First Fixed


Payment Date Payment Date.

Fixed Payment See Section 3.3 Fixed Payments Fixed Payment


Frequency Frequency.

Reference Conditional Mandatory (Mandatory if the Reference


Obligation Entity Role field contains the value Guarantor)
Primary Obligor See Section 3.8 RE/RO Comparison Proposed
(Proposed) Reference Obligation Primary Obligor

22

Annex 4
3.2 General Terms
The layout of this Template page differs slightly depending on whether the
Contractual Definitions selected are 2003 ISDA Credit, 2014 ISDA Credit or 2006
ISDA.

Field Options
Screen Term Meaning
/Selections

Master Mandatory ISDA.


Agreement Identifies the relevant type of Master Agreement and (Only one option
Type documentation applicable to the CDS Transaction. can be selected.)
Note: This Annex
only applies if ISDA
is selected.

Contractual Mandatory 2003 ISDA Credit,


Definitions This field is read only and specifies whether the 2003 2014 ISDA Credit
ISDA Credit Derivatives Definitions, the 2014 ISDA or
Credit Derivatives Definitions or the 2006 ISDA 2006 ISDA
Definitions are incorporated into the Transaction.

Contractual Mandatory Available options


Supplements From time to time supplements to the industry depend on value
standard definitions are published. Each supplement selected in
may not be applicable to all versions of the Contractual
Contractual Definitions. As such, the available Definitions field.
Screen Terms depend on the value selected for the Zero, one or more
Contractual Definitions. than one option can
be selected.

Calculation Mandatory Buyer,


Agent This field specifies the entity that makes the Seller or
calculations that are relevant to the CDS Transaction As Specified in
in the event that an applicable Credit Event occurs. Master Agreement
The choices are:
1. Buyer (which, if selected, means that the party
that is the buyer of protection (the Fixed Rate
Payer) shall be the Calculation Agent).
2. Seller (which, if selected, means that the party
that is the seller of protection (the Floating Rate
Payer) shall be the Calculation Agent).
3. As Specified in Master Agreement (which, if
selected, means the party specified as the
Calculation Agent in the relevant Master
Agreement between the parties.

Calculation Mandatory Refer to Section 6.


Agent City This field specifies the relevant office of the Available Business
Calculation Agent entity that shall act as the Centres and
Calculation Agent. Currencies.

The default value for Calculation Agent City is (Only one option

23

Annex 4
Field Options
Screen Term Meaning
/Selections
determined by the Docs Type and Contractual can be selected.)
Definitions relevant to the CDS Transaction, as
detailed in Schedule 2 of this Annex.

Business Mandatory Refer to Section 6.


Days The selection(s) here represent the Business Days Available Business
applicable to the CDS Transaction. Centres and
Currencies.
The default value for Business Days is determined
by the Docs Type and Currency relevant to the CDS There is no limit on
Transaction, as detailed in Schedule 2 of this Annex. the number of
options from the
drop down list that
can be selected.

Business Day Mandatory MODF,


Convention This field shows the Business Day Convention FOLL, or
applicable to the CDS Transaction. PREC
(Only one option
can be selected.)

Reference Mandatory Numeric input


Price This field specifies the Reference Price applicable to recorded to 2
the CDS Transaction. decimal places and
formatted to appear
as a %.
Cannot be
negative.

All Conditional Mandatory Ticked or


Guarantees When Ticked, this field specifies All Guarantees is Un-Ticked
applicable to the CDS Transaction.

24

Annex 4
3.3 Fixed Payments
The layout of this Template page differs slightly depending on whether the Rolls
Type selected is Standard or Custom.

Field Options /
Screen Term Meaning
Selections

Rolls Type Mandatory Standard or


This field specifies the approach by which the End Custom
Date and the Fixed Rate Payer Calculation Period
End Dates are determined.
Where Standard has been selected, the End Date
will default to the nearest 20th March, 20th June, 20th
September or 20th December following the date that
is calculated by adding the Start Date plus the
Tenor.

Start Date Mandatory Standard date


This field soecifies the Effective Date of the CDS selection field
Transaction.
The date can be a non-Business Day in MarkitWire.

The default Start Date is calculated as the calendar


day immediately following the Trade Date.

It is also possible to enter a value for the Start Date


manually. If entered manually, any date is
selectable regardless of whether it is a Business
Day or not, i.e. weekends and holidays are valid
values.

End Date Mandatory Standard date


This field specifies the Scheduled Termination Date selection field
of the CDS Transaction.
Where Standard Rolls are selected:
The default End Date is calculated as the next
following 20th of March, June, September or
December on or immediately after the date that is
derived from adding the Start Date plus Tenor. In
addition, where Standard Rolls are selected, the
End Date field is read-only.
Where Custom Rolls are selected:
The default End Date is calculated as the Start
Date plus Tenor. In addition, where Custom Rolls
are selected, the End Date field is editable.
Where Tenor on the Main page (Section 3.1) has
been populated a derived date is automatically
inserted.
It is, however, possible to enter a value for the End
Date manually. Where an End date is manually
inserted, the Tenor field (Main page (Section 3.1))

25

Annex 4
Field Options /
Screen Term Meaning
Selections
becomes broken if the End Date is not a whole
number of Fixed Payment Frequency periods from
the Start Date. If entered manually, any date
should be selectable regardless of whether it is a
Business Day or not, i.e. weekends and holidays
are valid values.
Note that, for both Standard Rolls and Custom
Rolls, the Start Date and End Date fields are linked,
i.e. changing the Start Date results in a
recalculation of the End Date providing that the
Tenor (Main Page, (Section 3.1)) does not display a
value of broken).
Changing the Tenor results in the End Date being
recalculated and displayed.
The End Date must fall after the Start Date.

Stub At Conditional Mandatory Start or


If MarkitWire detects that a Stub Period is End
applicable to the CDS Transaction from the
information provided in the Templates (and as
specified in Section 1.7), this field becomes
mandatory and indicates that an irregular Stub
Period or Fixed Rate Payer Calculation Period is
applicable to the CDS Transaction.
Where Standard Rolls are selected:
The default Stub At value is Start, indicating that
the irregular Fixed Rate Payer Calculation Period
will be the first Fixed Rate Payer Calculation Period
of the CDS Transaction. In addition, where
Standard Rolls are selected, the Stub At field is
read-only.
Where Custom Rolls are selected:
The default Stub At value is Start, indicating that
the irregular Fixed Rate Payer Calculation Period
will be the first Fixed Rate Payer Calculation Period
of the CDS Transaction. However, where Custom
Rolls are selected, the Stub At field is editable and
the User has the opportunity to change the value to
End. In such circumstances, the irregular Fixed
Rate Payer Calculation Period will be the last Fixed
Rate Payer Calculation Period of the CDS
Transaction.
For the purposes of the MarkitWire Provisions, a
Stub Period exists when the conditions set out in
Section 1.7 are met.

Stub Type Conditional Mandatory Short or


If MarkitWire detects that a Stub Period is Long
applicable to the CDS Transaction from the
information provided in the Templates (and as

26

Annex 4
Field Options /
Screen Term Meaning
Selections
specified in Section 4.6), this field becomes
mandatory.
This field indicates, where a Stub Period exists,
whether the Stub Type is Long or Short.
Where a Stub Type of Short has been selected,
this means that the irregular Stub Period will be
shorter in duration than the Fixed Payment
Frequency period.
Where a Stub Type of Long has been selected,
this means that the irregular Stub Period will be
longer in duration than the Fixed Payment
Frequency period.
The determination of the exact start and end dates
of the Stub Period is set out in Section 4.6 of this
Annex.
Where Standard Rolls are selected:
The default Stub Type value is calculated by
reference to the Start Date of the CDS Transaction.
Where the Start date of the CDS Transaction is
more than one calendar month prior to the next
following 20th March/June/September/December
then the Stub Type will default to Short, otherwise
it will default to Long. In addition, where Standard
Rolls are selected, the Stub Type field is read-only.
Where Custom Rolls are selected a value of either
Long or Short may be selected by the User.

Roll Day Calculated Automatically


Where either Standard or Custom rolls have been populated by the
selected, and the Month End Rolls parameter is MarkitWire system
Un-Ticked, this field displays the numerical value of
the day of each month on which the Fixed Rate
Payer Period End Dates fall.
Where either Standard or Custom rolls have been
selected and, the Month End Rolls parameter is
Ticked, this field displays the value EOM. As
such, the day of the month on which the Fixed Rate
Payer Period End Dates fall shall be the last
calendar day of the relevant month.

Month End Conditional Mandatory Ticked or


Rolls This field is only available to Users and End Users Un-Ticked
where either:
a) the Start Date of the CDS Transaction is a date
in the calendar month which falls on or after the
last Business Day of the month; or
b) the End Date of the CDS Transaction falls on
the last calendar day of the month.
MarkitWire automatically verifies the dates and

27

Annex 4
Field Options /
Screen Term Meaning
Selections
where Month End Rolls have been selected adjusts
the End Date to reflect the correct End Date. The
MarkitWire system automatically adjusts this End
Date on selection and de-selection of the Month
End Rolls flag. The User or End User is able
manually to override this adjustment by entering the
appropriate End Date as required.

Fixed Payment Mandatory 1m, 3m, 6m, or 1y


Frequency This field specifies the frequency of the Fixed Rate
Payer Payment Dates e.g. 6m denotes regular
Fixed Rate Payer Payment Dates every 6 months,
subject to any applicable Stub Periods, and
excluding any Upfront Fees.

The default value for Fixed Payment Frequency is


determined by the Docs Type and Contractual
Definitions relevant to the CDS Transaction, as
detailed in Schedule 2 of this Annex.

First Fixed Mandatory Standard date


Payment Date selection field
This field specifies the first Fixed Rate Payer
Payment Date (excluding any Upfront Fees). Note
that this date reflects the unadjusted date and, in
making the actual payment, Users and End Users
should adjust the date with reference to the
Business Centres and Business Day Convention as
specified on the General Terms Template page.

Last Regular Conditional Mandatory Standard date


Payment Date selection field
Note that this field only appears on the screen if the
Custom Rolls have been selected and the value
selected in the Stub At field is End. Where the
value in the Rolls Type field is other than Custom
or the value in the Stub At field is other than End,
this field is not applicable and the Last Regular
Payment Date will not be displayed.

When displayed, this field specifies the penultimate


Fixed Rate Payer Payment Date. Note that this
date reflects the unadjusted date and, in making
the actual payment, Users and End Users should
adjust the date with reference to the Business
Centres and Business Day Convention as specified
on the General Terms page.

Notwithstanding the value displayed in this field, it


should be noted that the final Fixed Rate Payer
Payment Date shall be on the Scheduled
Termination Date provided that, if an Event
Determination Date occurs, the earlier of the
Termination Date and the first Settlement Date with

28

Annex 4
Field Options /
Screen Term Meaning
Selections
respect to the Credit Event to which such Event
Determination Date relates, shall be the final Fixed
Rate Payer Payment Date.

Day Count Mandatory


Fraction 30/360,
This field specifies the relevant Fixed Rate Day
Count Fraction applicable to the CDS Transaction. 30E/360,
Where Standard Rolls are selected:
ACT/360,
The default value for Day Count Fraction is
determined by the Docs Type and Contractual ACT/365.FIXED,
Definitions relevant to the CDS Transaction, as or
detailed in Schedule 2 of this Annex. In addition,
where Standard Rolls are selected, the Day Count ACT/365.ISDA
Fraction field is read-only.
Where Custom Rolls are selected:
The default value for Day Count Fraction is
determined by the Docs Type and Contractual
Definitions relevant to the CDS Transaction, as
detailed in Schedule 2 of this Annex. However,
where Custom Rolls are selected, the Day Count
Fraction field is editable and the User has the
opportunity to change the value.

Upfront Fee Mandatory Ticked or


Indicator When this field is Ticked, an additional Fixed Un-Ticked
Amount is required (an Upfront Fee).

Until it has been Ticked all other Upfront Fee fields


remain read only (unavailable) and unable to be
updated. In addition, where Standard Rolls are
selected, the Upfront Fee Indicator field is Un-
Ticked and read-only but can be edited if the Non
Standard Defaults Indicator (Main page (Section
3.1)) is Ticked.

Upfront Fee Conditional Mandatory (Mandatory if the Upfront Standard date


Payment Date Fee Indicator field is Ticked.) selection field.
This fieldspecifies the date on which the Upfront
Fee is due to be paid, should an Upfront Fee be
applicable.
Note that this date reflects the Unadjusted date
and, in making the actual payment, Users and End
Users should adjust the date with reference to the
Business Centres and Business Day Convention as
specified on the General Terms page.

Upfront Fee Conditional Mandatory (Mandatory if the Upfront Rec or


Direction Fee Indicator field is Ticked) Pay
Where the value of the My Entity Buy/Sell Direction
field (Main page (Section 3.1)) is Buy, the User or

29

Annex 4
Field Options /
Screen Term Meaning
Selections
End User will pay the Upfront Fee and the value
displayed in this field will be Pay.

Where the value of the My Entity Buy/Sell Direction


field (Main page (Section 3.1)) is Sell, the User
will receive the Upfront Fee and the value displayed
in this field will be Rec.

Upfront Fee Conditional Mandatory (Mandatory if the Upfront Refer to Section 6.


Currency Fee Indicator field is Ticked) Available
This field specifies the currency of the Upfront Fee, Business Centres
should an Upfront Fee be applicable. and Currencies.
(Only One option
The default value for Currency is determined by the can be selected.)
Currency relevant to the CDS Transaction, as
detailed in Schedule 2 of this Annex.

Upfront Fee Conditional Mandatory (Mandatory if the Upfront Numeric input


Amount Fee Indicator field is Ticked.) recorded to 2
decimal places
This field specifies the amount of the Upfront Fee,
should an Upfront Fee be applicable. Keyboard
shortcuts are
available

30

Annex 4
3.4 Conditions to Settlement
The layout of this Template page differs slightly depending on whether the
Contractual Definitions selected are 2003 ISDA Credit or 1999 ISDA Credit.

Field Options
Screen Term Meaning
/Selections

Credit Event Mandatory Ticked.


Notice If Ticked, this field specifies that in the event of a
Indicator Credit Event, it is required that a Credit Event
Notice be exchanged between the parties to the
CDS Transaction as a Condition to Payment.
Note that this field is read-only and, thus, cannot be
Un-Ticked. To this end, a Credit Event Notice is,
therefore, a Condition to Settlement, or a Condition
to Payment, as the case may be.

Credit Event Conditional Mandatory (subject to a Credit Event Buyer


Notice - Notice being applicable) Buyer or Seller
Notifying Party The selection indicates which party, or parties, to (Only one option
the CDS Transaction is the Notifying Party. Note can be selected.)
that in this version of MarkitWire, this election is
Mandatory.

Credit Event Mandatory Standard; or


Occurrence Where the field contains the value Standard, the Refer to Section 6.
Timezone selection indicates that the Credit Event Occurrence Available
Timezone will be as specified by default Business Centres
(Greenwich Mean Time) in Section 3.3 of the 2003 and Currencies.
ISDA Credit Derivatives Definitions. (Only one option
Where the field contains the identifier of a Business can be selected.)
Centre, the selection indicates that the Credit Event
Occurrence Timezone will be the local time
applicable in the Business Centre specified. As
such, references to Greenwich Mean Time in
Section 3.3 of the 2003 ISDA Credit Derivatives
Definitions should be replaced with references to
local time applicable in the Business Centre
specified.

Notice of Mandatory Ticked or


Intended Un-Ticked
Physical
Settlement If Ticked, this field specifies that in the event of a
Indicator Credit Event, it is required that a Notice of Physical
Settlement be exchanged between the parties to
the CDS Transaction as a Condition to Settlement.
Note that, where Physical Settlement (Settlement
Terms Page, Settlement Method field (Section 3.7))
has been selected, this field is read-only and, thus,
cannot be Un-Ticked. To this end, a Notice of
Physical Settlement is, therefore, a Condition to

31

Annex 4
Field Options
Screen Term Meaning
/Selections
Settlement in such circumstances.
Note also that in this version of MarkitWire, only
CDS Transactions to which Physical Settlement is
applicable are supported.

Notice of Mandatory Ticked or


Publicly If Ticked this field specifies that in the event of a Un-Ticked
Available Credit Event, it is required that a Notice of Publicly
Information Available Information be exchanged between the
Indicator parties to the CDS Transaction as a Condition to
Settlement.

Additional Conditional Mandatory (subject to a Notice of The Australian


Public Sources Publicly Available Information being required) Financial Review
Specifies zero, one or more Public Sources of Asahi Shinbun
Publicly Available Information in addition to those Yomiuri Shinbun
defined in the 2003 or 2014 Definitions, as
applicable. La Tribune
Les Echos
Note that any selections made in this field are over
and above the Standard Public Sources as defined (Zero, one or more
in the relevant Contractual Definitions. than one option
can be selected.)
Note that other
options may be
added from time to
time.

Specified Conditional Mandatory (subject to a Notice of Integer, must be


Number Publicly Available Information being required) greater than or
This field specifies an integer value that details the equal to 2.
Specified Number of Public Sources.

32

Annex 4
3.5 Credit Events
The layout of this Template page differs slightly depending on whether the
Contractual Definitions selected are 2003 ISDA Credit or 1999 ISDA Credit.

Field Options /
Screen Term Meaning
Selections

Bankruptcy Mandatory Ticked or


Indicator This box should be Ticked if Bankruptcy is a Credit Un-Ticked
Event applicable to the CDS Transaction.
The default value for Bankruptcy is determined by
the Docs Type and Contractual Definitions relevant
to the CDS Transaction, as detailed in Schedule 2
of this Annex.

Failure to Pay Mandatory Ticked or


Indicator This box should be Ticked if Failure to Pay is a Un-Ticked
Credit Event applicable to the CDS Transaction.
The default value for Failure to Pay is determined
by the Docs Type and Contractual Definitions
relevant to the CDS Transaction, as detailed in
Schedule 2 of this Annex.

Grace Period Conditional Mandatory (subject to Failure to Pay Ticked or


Extension being applicable) Un-Ticked
Indicator This box should be Ticked if a Grace Period
Extension is applicable to the CDS Transaction.
The default value for Grace Period Extension is
determined by the Docs Type and Contractual
Definitions relevant to the CDS Transaction, as
detailed in Schedule 2 of this Annex.

Grace Period Conditional Mandatory (subject to a Grace Period Blank; or


Days Extension being applicable) Integer, must be
Specifies the number of days in the Grace Period greater than or
Extension. equal to 1.

Grace Period Conditional Mandatory (subject to a Grace Period Calendar


Extension Day Extension being applicable) Business
Type Specifies the type of days to which the Grace (Only one option
Period Days should be applied. can be selected.)
Where the selection is Business, the Business
Days as specified in the Business Days field on the
General Terms page (Section 3.2) shall apply.

Payment Conditional Mandatory (subject to Failure to Pay Refer to Section 6.


Requirement being applicable) Available
Currency The currency applicable to the Payment Business Centres
Requirement Amount. and Currencies.
(Only one option

33

Annex 4
Field Options /
Screen Term Meaning
Selections
can be selected.)

Payment Mandatory Decimal. Input


Requirement The amount ascribed to the Payment Requirement. must be in range
Amount Note that if this field is blank or zero in value, this is 0.01 to
equivalent to the Payment Requirement not having 999,999,999,999.9
been specified. 9.
Keyboard
Shortcuts available

Obligation Mandatory Ticked.


Default This box should be Ticked if Obligation Default is a Un-Ticked.
Indicator Credit Event applicable to the CDS Transaction. (Only one option
The default value for Obligation Default is can be selected.)
determined by the Docs Type and Contractual
Definitions relevant to the CDS Transaction, as
detailed in Schedule 2 of this Annex.

Obligation Mandatory Ticked.


Acceleration This box should be Ticked if Obligation Un-Ticked.
Indicator Acceleration is a Credit Event applicable to the (Only one option
CDS Transaction. can be selected.)
The default value for Obligation Acceleration is
determined by the Docs Type and Contractual
Definitions relevant to the CDS Transaction, as
detailed in Schedule 2 of this Annex.

Repudiation/M Mandatory Ticked.


oratorium This box should be Ticked if Repudiation/ Un-Ticked.
Indicator Moratorium is a Credit Event applicable to the CDS (Only one option
Transaction. can be selected.)
The default value for Repudiation/Moratorium is
determined by the Docs Type and Contractual
Definitions relevant to the CDS Transaction, as
detailed in Schedule 2 of this Annex.

Restructuring Mandatory Not Applicable


The default value for Restructuring is determined Full Restructuring
by the Docs Type and Contractual Definitions Modified
relevant to the CDS Transaction, as detailed in Restructuring
Schedule 2 of this Annex.
Modified Modified
1) Where 2003 ISDA Credit has been selected as Restructuring
the applicable value for the Contractual Definitions,
the available choices are: (Only one option
can be selected.)
A selection of Not Applicable in this field
indicates that Restructuring is not applicable to
the CDS Transaction. In addition:
Restructuring Maturity Limitation and Fully
Transferable Obligation SHALL NOT apply to
the CDS Transaction.

34

Annex 4
Field Options /
Screen Term Meaning
Selections
Modified Restructuring Maturity Limitation and
Conditionally Transferable Obligation SHALL
NOT apply to the CDS Transaction.
A selection of Full Restructuring in this field
indicates that Restructuring is applicable to the
CDS Transaction. In addition:
Restructuring Maturity Limitation and Fully
Transferable Obligation SHALL NOT apply to
the CDS Transaction; and
Modified Restructuring Maturity Limitation and
Conditionally Transferable Obligation SHALL
NOT apply to the CDS Transaction.
A selection of Modified Restructuring in this
field indicates that Restructuring is applicable to
the CDS Transaction. In addition:
Restructuring Maturity Limitation and Fully
Transferable Obligation SHALL apply to the
CDS Transaction; and
Modified Restructuring Maturity Limitation and
Conditionally Transferable Obligation SHALL
NOT apply to the CDS Transaction.
A selection of Modified Modified Restructuring
in this field indicates that Restructuring is
applicable to the CDS Transaction. In addition:,
Restructuring Maturity Limitation and Fully
Transferable Obligation SHALL NOT apply to
the CDS Transaction; and
Modified Restructuring Maturity Limitation and
Conditionally Transferable Obligation SHALL
apply to the CDS Transaction.
2) Where 1999 ISDA Credit has been selected as
the applicable value for the Contractual Definitions,
the available choices are:
A selection of Not Applicable in this field
indicates that Restructuring is not applicable to
the CDS Transaction.
A selection of Full Restructuring in this field
indicates that Restructuring is applicable to the
CDS Transaction. In addition:
Note that where the Contractual Supplements
checkbox applicable to the Restructuring (May
2001) Contractual Supplement (see Section
4.3) has been Ticked, Restructuring Maturity
Limitation SHALL NOT apply to the CDS
Transaction.
A selection of Modified Restructuring in this
field indicates that Restructuring is applicable to
the CDS Transaction. In addition:

35

Annex 4
Field Options /
Screen Term Meaning
Selections
Note that this selection is only available where
the Contractual Supplements checkbox
applicable to the Restructuring (May 2001)
Contractual Supplement (see Section 4.3) has
been Ticked. In such circumstances,
Restructuring Maturity Limitation SHALL apply
to the CDS Transaction.

Multiple Holder Conditional Mandatory (subject to a Restructuring Ticked.


Obligation being applicable to the CDS Transaction ie the Un-Ticked.
Indicator Restructuring field contains a value other than Not
Applicable). (Only one option
can be selected.)
This box should be Ticked if Multiple Holder
Obligation is applicable to the CDS Transaction.
The default value for Multiple Holder Obligation is
determined by the Docs Type and Contractual
Definitions relevant to the CDS Transaction, as
detailed in Schedule 2 of this Annex.
Note that this field only appears on the screen if the
Contractual Definitions field contains the value
2003 ISDA Credit. Where the value in the
Contractual Definitions field is other than 2003
ISDA Credit, this field is not visible.
Note that where the Contractual Definitions field
contains the value 1999 ISDA Credit AND the
Restructuring (May 2001) Contractual
Supplement checkbox has been Ticked, Multiple
Holder Obligation shall be applicable.
Note that where the Contractual Definitions field
contains the value 1999 ISDA Credit AND the
Restructuring (May 2001) Contractual
Supplement checkbox has NOT been Ticked,
Multiple Holder Obligation SHALL NOT be
applicable.

Multiple Credit Conditional Mandatory (subject to a Restructuring Ticked.


Event Notices being applicable to the CDS Transaction ie the Un-Ticked.
Indicator Restructuring field contains a value other than Not
Applicable). (Only one option
can be selected.)
This box should be Ticked if the provisions of
Section 3.9 of the 2003 ISDA Credit Derivatives
Definitions (Credit Event Notice After Restructuring)
are applicable to the CDS Transaction.
Where this is Un-Ticked, the provisions of Section
3.9 of the 2003 ISDA Credit Derivatives Definitions
(Credit Event Notice After Restructuring) shall not
apply to the CDS Transaction.
The default value for Multiple Credit Event Notices
is determined by the Docs Type and Contractual
Definitions relevant to the CDS Transaction, as
detailed in Schedule 2 of this Annex.

36

Annex 4
Field Options /
Screen Term Meaning
Selections
Where this field is Ticked, this should be interpreted
as nothing being specified otherwise in the
Confirmation. Where this field is Un-Ticked, the
contrary is true.
Note that this field only appears on the screen if the
Contractual Definitions field contains the value
2003 ISDA Credit. Where the value in the
Contractual Definitions field is other than 2003
ISDA Credit, this field is not visible.
Note that where the Contractual Definitions field
contains the value 1999 ISDA Credit AND the
Restructuring (May 2001) Contractual
Supplement checkbox has been Ticked, the
provisions of Section 3.10 of the 1999 ISDA Credit
Derivatives Definitions (Credit Event Notice After
Restructuring) as supplemented by the
Restructuring (May 2001) Contractual Supplement
shall be applicable.

Default Conditional Mandatory (subject to the Default Refer to Section 6.


Requirement Requirement Amount being a positive numeric Available
Currency value and one or more of the following being Business Centres
applicable to the CDS Transaction: and Currencies.
Obligation Default; (Only one option
can be selected.)
Obligation Acceleration;
Repudiation/Moratorium; OR
Restructuring).
Specifies the currency applicable to the Default
Requirement Amount.

Default Mandatory Decimal. Input


Requirement Specifies the amount ascribed to the Default must be in range
Amount Requirement. Note that if this field is blank or zero 0.01 to
in value, this is equivalent to the Default 999,999,999,999.9
Requirement not having been specified. 9.
Keyboard
shortcuts are
available

37

Annex 4
3.5 Obligation
The layout of this Template page differs slightly depending on whether the
Contractual Definitions selected are 2003 ISDA Credit or 1999 ISDA Credit.

Field Options
Screen Term Meaning
/Selections

Obligation Mandatory Payment


Category Identifies the relevant type of Obligation Category Borrowed Money
applicable to the CDS Transaction. Reference
Obligations Only
Bond
Loan
Bond or Loan
(Only one option can
be selected.)

Obligation Characteristics

(Obligation Mandatory Ticked.


Characteristics) Where 2003 ISDA Credit has been selected as Un-Ticked.
Not the applicable value for the Contractual Definitions (Only one option can
Subordinated (General Terms page (Section 3.2)):
(Pari Passu be selected.)
Ranking) This box should be Ticked if Not
Indicator Subordinated is an Obligation Characteristic
applicable to the CDS Transaction.
Where 1999 ISDA Credit has been selected as
the applicable value for the Contractual Definitions
(General Terms page (Section 3.2)):
This box should be Ticked if Pari Passu
Ranking is an Obligation Characteristic
applicable to the CDS Transaction.

(Obligation Mandatory Ticked.


Characteristics) This box should be Ticked if Specified Currency Un-Ticked.
Specified is an Obligation Characteristic applicable to the (Only one option can
Currency CDS Transaction.
Indicator be selected.)

(Obligation Conditional Mandatory (subject to a Specified Ticked.


Characteristics) Currency Obligation Characteristic being Un-Ticked.
Standard applicable).
Specified (Only one option can
This box should be Ticked if Standard Specified be selected.)
Currencies Currencies is applicable to Specified Currency
Indicator Obligation Characteristic of the CDS Transaction.

(Obligation Conditional Mandatory (subject to a Specified Ticked.


Characteristics) Currency Obligation Characteristic being Un-Ticked.
Other Specified applicable).
Currency (Only one option can
This box should be Ticked if the (Obligation

38

Annex 4
Field Options
Screen Term Meaning
/Selections
Indicator Characteristics) Other Specified Currencies be selected.)
selection is to be made applicable to the Specified
Currency Obligation Characteristic of the CDS
Transaction.

Note that where both the (Obligation


Characteristics) Standard Specified Currencies
Indicator and the (Obligation Characteristics) Other
Specified Currency Indicator are Ticked, the
selection or selections made in the (Obligation
Characteristics) Other Specified Currencies field
are in addition to the Standard Specified
Currencies.

If Specified Currency is Ticked and both the


(Obligation Characteristics) Standard Specified
Currencies Indicator and the (Obligation
Characteristics) Other Specified Currency Indicator
are Un-Ticked, Standard Specified Currencies shall
be applicable to the CDS Transaction.

Note that where the (Obligation Characteristics)


Standard Specified Currencies Indicator is Un-
Ticked and the (Obligation Characteristics) Other
Specified Currency Indicator is Ticked the currency
or currencies selected in the (Obligation
Characteristics) Other Specified Currencies field
shall be the Specified Currencies applicable to the
CDS Transaction.

(Obligation Conditional Mandatory (subject to a Specified Refer to Section 6.


Characteristics) Currency Obligation Characteristic being Available Business
Other Specified applicable). Centres and
Currencies Currencies.
The selection or selections in this field detail which
currency or currencies are to be treated as (One or more than
Specified Currencies applicable to the Specified one option can be
Currency Obligation Characteristic of the CDS selected.)
transaction.

Note that where both the Standard Specified


Currencies Indicator and the Other Specified
Currency Indicator are Ticked, the selection or
selections made in this field are in addition to the
Standard Specified Currencies.

(Obligation Mandatory Ticked.


Characteristics) This box should be Ticked if Not Sovereign Un-Ticked.
Not Sovereign Lender is an Obligation Characteristic applicable (Only one option can
Lender to the CDS Transaction.
Indicator be selected.)

(Obligation Mandatory Ticked.


Characteristics) This box should be Ticked if Not Domestic Un-Ticked.
Not Domestic

39

Annex 4
Field Options
Screen Term Meaning
/Selections
Currency Currency is an Obligation Characteristic applicable (Only one option can
Indicator to the CDS Transaction. be selected.)

(Obligation Conditional Mandatory (subject to Not Domestic Refer to Section 6.


Characteristics) Currency being applicable). Available Business
Domestic The selection in this field details which currency is Centres and
Currency the Domestic Currency applicable to the Not Currencies.
Domestic Currency Obligation Characteristic of the (Zero or one option
CDS Transaction. can be selected.)

(Obligation Mandatory Ticked.


Characteristics) This box should be Ticked if Not Domestic Law is Un-Ticked.
Not Domestic an Obligation Characteristic applicable to the CDS (Only one option can
Law Indicator Transaction. be selected.)

(Obligation Mandatory Ticked.


Characteristics) This box should be Ticked if Listed is an Un-Ticked.
Listed Indicator Obligation Characteristic applicable to the CDS (Only one option can
Transaction. be selected.)

(Obligation Mandatory Ticked.


Characteristics) This box should be Ticked if Not Domestic Un-Ticked.
Not Domestic Issuance is an Obligation Characteristic applicable (Only one option can
Issuance to the CDS Transaction.
Indicator be selected.)

(Obligation Mandatory Ticked.


Characteristics) This box should be Ticked if Not Contingent is an Un-Ticked.
Not Contingent Obligation Characteristic applicable to the CDS (Only one option can
Indicator Transaction. be selected.)
Note that this field only appears on the screen if
the Contractual Definitions field contains the value
1999 ISDA Credit. Where the value in the
Contractual Definitions field is other than 1999
ISDA Credit, this field is not applicable.

40

Annex 4
3.6 Settlement Terms

Field Options /
Screen Term Meaning
Selections

Settlement Mandatory Physical


Method This field denotes whether Physical Settlement or (Only one option can
Cash Settlement is the applicable Settlement be selected.)
Method of the CDS Transaction.
Note that in the current release of MarkitWire, this
field is read-only and set to the value Physical.
As such, only Physical Settlement is supported.

Settlement Mandatory Refer to Section 6.


Currency The selection in this field details which currency is Available Business
the Settlement Currency applicable to the Physical Centres and
Settlement of the CDS Transaction. Currencies.
(Only one option can
be selected.)

Physical Mandatory Fixed


Settlement 1) Where 2003 ISDA Credit has been selected as Capped
Period Type the applicable value for the Contractual Definitions Straight
(General Terms page (Section 3.2)), the available
choices are: (Only one option can
be selected.)
Straight, meaning that the provisions of
Section 8.6 of the 2003 ISDA Credit Derivatives
Definitions apply without a number of Business
Days being specified.
Capped, meaning that the provisions of
Section 8.6 of the 2003 ISDA Credit Derivatives
Definitions apply but modified such that in no
event will the Physical Settlement Period
exceed the number of days specified in the
Physical Settlement Period Days field on this
Template page.
Fixed, meaning that that the provisions of
Section 8.6 of the 2003 ISDA Credit Derivatives
Definitions apply with a number of Business
Days being specified in the Physical Settlement
Period Days field on this Template page.
2) Where 1999 ISDA Credit has been selected as
the applicable value for the Contractual Definitions
(General Terms Template page (Section 3.2)), the
available choices are:
Straight, meaning that the provisions of
Section 8.5 of the 1999 ISDA Credit Derivatives
Definitions apply without a number of Business
Days being specified.
Capped, meaning that the provisions of
Section 8.5 of the 1999 ISDA Credit Derivatives

41

Annex 4
Field Options /
Screen Term Meaning
Selections
Definitions apply but modified such that in no
event will the Physical Settlement Period
exceed the number of days specified in the
Physical Settlement Period Days field on this
Template page.
Fixed, meaning that that the provisions of
Section 8.5 of the 1999 ISDA Credit Derivatives
Definitions apply with a number of Business
Days being specified in the Physical Settlement
Period Days field on this Template page.
Note that where a number of days is specified, this
number reflects the number of Business Days
applicable. In assessing whether a particular day
is a Business Day, the Business Centres specified
on the General Terms page (Section 3.2) should
be taken into account.

Physical Conditional Mandatory (subject to a Physical Integer, must be


Settlement Settlement Period Type of Capped or Fixed greater than or equal
Period Days being selected) to 1.
An integer value that specifies the Physical
Settlement Period Days applicable to the Physical
Settlement Period Type.
Note that where a number of days is specified, this
number reflects the number of Business Days
applicable. In assessing whether a particular day
is a Business Day, the Business Centres specified
on the General Terms page (Section 3.2) should
be taken into account.

Include Mandatory Ticked.


Accrued Where 2003 ISDA Credit has been selected as Un-Ticked.
Interest the applicable value for the Contractual Definitions (Only one option can
Indicator (General Terms page (Section 3.2)): be selected.)
This box should be Ticked if Include Accrued
Interest is applicable to the CDS Transaction.
This box should be Un-Ticked if Exclude
Accrued Interest is applicable to the CDS
Transaction.
Where 1999 ISDA Credit has been selected as
the applicable value for the Contractual Definitions
(General Terms page (Section 3.2)):
This box should be Ticked if Include Accrued
Interest is applicable to the Portfolio.
This box should be Un-Ticked if Exclude
Accrued Interest is applicable to the Portfolio.

Escrow Mandatory Ticked.


Indicator This box should be Ticked if Escrow is applicable Un-Ticked.

42

Annex 4
Field Options /
Screen Term Meaning
Selections
to the CDS Transaction. (Only one option can
be selected.)

60 Business Mandatory Ticked.


Day Cap on This box should be Ticked if notwithstanding Un-Ticked.
Settlement Section 1.7 or any provisions of Sections 9.9 or (Only one option can
Indicator 9.10 to the contrary, but without prejudice to be selected.)
Section 9.3 and (where applicable) Sections 9.4,
9.5 and 9.6, if the Termination Date has not
occurred on or prior to the date that is 60 Business
Days following the Physical Settlement Date, such
60th Business Day shall be deemed to be the
Termination Date with respect to the CDS
Transaction except in relation to any portion of the
Transaction (an Affected Portion) in respect of
which:
(1) a valid notice of Buy-in Price has been
delivered that is effective fewer than three
Business Days prior to such 60th Business Day, in
which case the Termination Date for that Affected
Portion shall be the third Business Day following
the date on which such notice is effective; or
(2) Buyer has purchased but not Delivered
Deliverable Obligations validly specified by Seller
pursuant to Section 9.10(b), in which case the
Termination Date for that Affected Portion shall be
the tenth Business Day following the date on which
Seller validly specified such Deliverable
Obligations to Buyer.
Note that this field only appears on the screen if
the Contractual Definitions field contains the value
2003 ISDA Credit. Where the value in the
Contractual Definitions field is other than 2003
ISDA Credit, this field is not applicable. As such,
all reference to Section numbers within the
definition of this screen term refer to the 2003 ISDA
Credit Derivatives Definitions.

Partial Cash Settlement

(Partial Cash Mandatory Ticked.


Settlement) Where 2003 ISDA Credit has been selected as Un-Ticked.
Consent the applicable value for the Contractual Definitions (Only one option can
Required Loans (General Terms page (Section 3.2)):
Indicator be selected.)
This box should be Ticked if Partial Cash
Settlement of Consent Required Loans is
applicable to the CDS Transaction.
Where 1999 ISDA Credit has been selected as
the applicable value for the Contractual Definitions
(General Terms page (Section 3.2)):
Where this field is Ticked AND the (Partial

43

Annex 4
Field Options /
Screen Term Meaning
Selections
Cash Settlement) Assignable Loans Indicator is
also Ticked, Partial Cash Settlement of Loans
is applicable to the CDS Transaction.
Where this field is Un-Ticked AND the (Partial
Cash Settlement) Assignable Loans Indicator is
also Un-Ticked, Partial Cash Settlement of
Loans is NOT applicable to the CDS
Transaction.

(Partial Cash Mandatory Ticked.


Settlement) Where 2003 ISDA Credit has been selected as Un-Ticked.
Assignable the applicable value for the Contractual Definitions (Only one option can
Loans Indicator (General Terms page (Section 3.2)): be selected.)
This box should be Ticked if Partial Cash
Settlement of Assignable Loans is applicable
to the CDS Transaction.
Where 1999 ISDA Credit has been selected as
the applicable value for the Contractual Definitions
(General Terms page (Section 3.2)):
Where this field is Ticked AND the (Partial
Cash Settlement) Consent Required Loans
Indicator is also Ticked, Partial Cash
Settlement of Loans is applicable to the CDS
Transaction.
Where this field is Un-Ticked AND the (Partial
Cash Settlement) Consent Required Loans
Indicator is also Un-Ticked, Partial Cash
Settlement of Loans is NOT applicable to the
CDS Transaction.
Where this field is Ticked AND the (Partial
Cash Settlement) Consent Required Loans
Indicator is Un-Ticked, Partial Cash Settlement
of Assignable Loans is applicable to the CDS
Transaction.

(Partial Cash Mandatory Ticked.


Settlement) This box should be Ticked if Partial Cash Un-Ticked.
Participations Settlement of Participations is applicable to the (Only one option can
Indicator CDS Transaction. be selected.)

44

Annex 4
3.7 Deliverable Obligation
The layout of this Template page differs slightly depending on whether the
Contractual Definitions selected are 2003 ISDA Credit or 1999 ISDA Credit.

Field Options
Screen Term Meaning
/Selections

Deliverable Mandatory Payment


Obligation Identifies the relevant type of Deliverable Borrowed Money
Category Obligation Category applicable to the CDS Reference
Transaction. Obligations Only
Bond
Loan
Bond or Loan
(Only one option
can be selected.)

Deliverable Obligation Characteristics

(Deliverable Mandatory Ticked.


Obligation Where 2003 ISDA Credit has been selected as Un-Ticked.
Characteristics) the applicable value for the Contractual Definitions (Only one option
Not (General Terms page (Section 3.2)):
Subordinated can be selected.)
(Pari Passu This box should be Ticked if Not
Ranking) Subordinated is a Deliverable Obligation
Indicator Characteristic applicable to the CDS
Transaction.
Where 1999 ISDA Credit has been selected as
the applicable value for the Contractual Definitions
(General Terms page (Section 3.2)):
This box should be Ticked if Pari Passu
Ranking is a Deliverable Obligation
Characteristic applicable to the CDS
Transaction.

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Specified Currency Un-Ticked.
Characteristics) is a Deliverable Obligation Characteristic (Only one option
Specified applicable to the CDS Transaction.
Currency can be selected.)

(Deliverable Conditional Mandatory (subject to a Specified Ticked.


Obligation Currency Deliverable Obligation Characteristic Un-Ticked.
Characteristics) being applicable).
Standard (Only one option
This box should be Ticked if Standard Specified can be selected.)
Specified Currencies is applicable to Specified Currency
Currencies Deliverable Obligation Characteristic of the CDS
Indicator Transaction.

45

Annex 4
Field Options
Screen Term Meaning
/Selections

(Deliverable Conditional Mandatory (subject to a Specified Ticked.


Obligation Currency Deliverable Obligation Characteristic Un-Ticked.
Characteristics) being applicable).
Other Specified (Only one option
Currency This box should be Ticked if the (Deliverable can be selected.)
Indicator Obligation Characteristics) Specified Currencies
selection is to be made applicable to the Specified
Currency Deliverable Obligation Characteristic of
the CDS Transaction.

Note that where both the (Deliverable Obligation


Characteristics) Standard Specified Currencies
Indicator and the (Deliverable Obligation
Characteristics) Other Specified Currency Indicator
are Ticked, the selection or selections made in the
(Deliverable Obligation Characteristics) Other
Specified Currencies field are in addition to the
Standard Specified Currencies.

Note that where both the (Deliverable Obligation


Characteristics) Standard Specified Currencies
Indicator and the (Deliverable Obligation
Characteristics) Other Specified Currency Indicator
are Un-Ticked, Standard Specified Currencies shall
be applicable to the CDS Transaction.

Note that where the (Deliverable Obligation


Characteristics) Standard Specified Currencies
Indicator is Un-Ticked and the (Deliverable
Obligation Characteristics) Other Specified
Currency Indicator is Ticked the currency or
currencies selected in the (Deliverable Obligation
Characteristics) Other Specified Currencies field
shall be the Specified Currencies applicable to the
CDS Transaction.

(Deliverable Conditional Mandatory (subject to a Specified Refer to Section 6.


Obligation Currency Deliverable Obligation Characteristic Available Business
Characteristics) being applicable). Centres and
Other Specified Currencies.
Currencies The selection or selections in this field detail which
currency or currencies are to be treated as (One or more than
Specified Currencies applicable to the Specified one option can be
Currency Deliverable Obligation Characteristic of selected.)
the CDS transaction

Note that where both the (Deliverable Obligation


Characteristics) Standard Specified Currencies
Indicator and the (Deliverable Obligation
Characteristics) Other Specified Currency Indicator
are Ticked, the selection or selections made in this
field are in addition to the Standard Specified
Currencies.

46

Annex 4
Field Options
Screen Term Meaning
/Selections

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Not Sovereign Un-Ticked.
Characteristics) Lender is a Deliverable Obligation Characteristic (Only one option
Not Sovereign applicable to the CDS Transaction.
Lender can be selected.)
Indicator

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Not Domestic Un-Ticked.
Characteristics) Currency is a Deliverable Obligation Characteristic (Only one option
Not Domestic applicable to the CDS Transaction.
Currency can be selected.)
Indicator

(Deliverable Conditional Mandatory (subject to Not Domestic Refer to Section 6.


Obligation Currency having been selected). Available Business
Characteristics) The selection in this field details which currency is Centres and
Domestic the Domestic Currency applicable to the Not Currencies.
Currency Domestic Currency Deliverable Obligation (Zero or one option
Characteristic of the CDS Transaction. can be selected.)

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Not Domestic Law is Un-Ticked.
Characteristics) a Deliverable Obligation Characteristic applicable (Only one option
Not Domestic to the CDS Transaction.
Law Indicator can be selected.)

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Listed is a Un-Ticked.
Characteristics) Deliverable Obligation Characteristic applicable to (Only one option
Listed Indicator the CDS Transaction. can be selected.)

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Not Domestic Un-Ticked.
Characteristics) Issuance is a Deliverable Obligation Characteristic (Only one option
Not Domestic applicable to the CDS Transaction.
Issuance can be selected.)
Indicator

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Not Contingent is a Un-Ticked.
Characteristics) Deliverable Obligation Characteristic applicable to (Only one option
Not Contingent the CDS Transaction.
Indicator can be selected.)

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Assignable Loan is a Un-Ticked.
Characteristics) Deliverable Obligation Characteristic applicable to (Only one option
Assignable the CDS Transaction.
Loan Indicator can be selected.)

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Consent Required Un-Ticked.
Characteristics)

47

Annex 4
Field Options
Screen Term Meaning
/Selections
Consent Loan is a Deliverable Obligation Characteristic (Only one option
Required Loan applicable to the CDS Transaction. can be selected.)
Indicator

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Direct Loan Un-Ticked.
Characteristics) Participation is a Deliverable Obligation (Only one option
Direct Loan Characteristic applicable to the CDS Transaction.
Participation can be selected.)
Indicator

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Not Bearer is a Un-Ticked.
Characteristics) Deliverable Obligation Characteristic applicable to (Only one option
Not Bearer the CDS Transaction.
Indicator can be selected.)

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Transferable is a Un-Ticked.
Characteristics) Deliverable Obligation Characteristic applicable to (Only one option
Transferable the CDS Transaction.
Indicator can be selected.)

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Maximum Maturity is Un-Ticked.
Characteristics) a Deliverable Obligation Characteristic applicable (Only one option
Maximum to the CDS Transaction.
Maturity can be selected.)
Indicator

(Deliverable Conditional Mandatory (subject to Maximum Integer, must be


Obligation Maturity Deliverable Obligation Characteristic being greater than or
Characteristics) applicable). equal to 1.
Maximum The value in this field specifies the remaining
Maturity Years maturity, in years, applicable to the Maximum
Maturity Deliverable Obligation Characteristic.

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Accelerated or Un-Ticked.
Characteristics) Matured is a Deliverable Obligation Characteristic (Only one option
Accelerated or applicable to the CDS Transaction.
Matured can be selected.)
Indicator

(Deliverable Mandatory Ticked.


Obligation This box should be Ticked if Indirect Loan Un-Ticked.
Characteristics) Participation is a Deliverable Obligation (Only one option
Indirect Loan Characteristic applicable to the CDS Transaction.
Participation can be selected.)
Indicator Note that this field only appears on the screen if
the Contractual Definitions field contains the value
1999 ISDA Credit. Where the value in the
Contractual Definitions field is other than 1999
ISDA Credit, this field is not applicable.

48

Annex 4
3.8 RE/RO Comparison

Note that this Template page is designed to allow Users and End Users to identify,
resolve and, if necessary, agree to mismatches between the Reference Entity and
Reference Obligation static data held locally and the Reference Entity and Reference
Obligation data that will apply to the Transaction.
Field Options
Screen Term Meaning
/Selections

Proposed
Note that the data shown within this Section of the RE/RO Comparison Template page
reflects the data that will apply to the bilateral Affirmation of the CDS Transaction.

(Proposed) Mandatory Text selected from


Reference approved data
Entity Name Details the full legal name of the Reference Entity sources
for the Credit Derivative CDS Transaction.

(Proposed) Conditional Mandatory (subject to a RED Entity Formatted


RED Entity Identifier being present within the Proposed alphanumeric data
Identifier Reference Entity/Reference Obligation Source). as supplied by
Specifies the identifier applicable to the Reference RED.
Entity supplied by from the RED data source.

(Proposed) Conditional Mandatory (subject to a RED Formatted


RED Pair Entity/Obligation Pair Identifier being present within alphanumeric data
Identifier the Proposed Reference Entity/Reference as supplied by
Obligation Source). RED.
Specifies the identifier applicable to the Reference
Entity and Reference Obligation supplied by from
the RED data source.

(Proposed) Mandatory Primary Obligor.


Reference Specifies the relationship between the Reference Guarantor.
Entity Role Entity and Reference Obligation. (Only one option
Where Primary Obligor is selected, the Reference can be selected.)
Entity is the Primary Obligor in relation to the Selected from
Reference Obligation. approved data
Where Guarantor is selected, the Reference sources.
Entity is Guarantor in relation to the Reference
Obligation.

(Proposed) Mandatory ISIN


Reference Specifies the type of Reference Obligation CUSIP
Obligation Identifier applicable to the CDS Transaction.
Identifier Type (Only one option
Where ISIN is selected, the Reference Obligation can be selected.)
Identifier Value is an International Securities
Identification Number.
Where CUSIP is selected, the Reference
Obligation Identifier Value is a CUSIP Number.

49

Annex 4
Field Options
Screen Term Meaning
/Selections

(Proposed) Mandatory Formatted


Reference Specifies the value ascribed to the Reference alphanumeric data
Obligation Obligation Identifier. selected from
Identifier Value approved data
sources.
In the format
appropriate to the
Reference
Obligation Identifier
Type.

(Proposed) Mandatory Standard date


Reference Specifies the Reference Obligation Maturity date. selection field.
Obligation Selected from
Maturity Date approved data
sources.

(Proposed) Mandatory Formatted


Reference Specifies the Approved Data Source from which alphanumeric data
Entity/Referenc the Reference Entity and Reference Obligation selected from
e Obligation data is taken. approved data
Source sources.
Note that all Users and End Users are In the format
permissioned to one or more Approved Data appropriate to the
Sources. Authorised employees at each User can Reference
only make use of Reference Entity and Reference Obligation Identifier
Obligation data to which they are permissioned. Type.

(Proposed) Mandatory Numeric


Reference formatted so that it
Specifies the Reference Obligation Coupon rate. appears as a % in
Obligation
Coupon Rate the range
0 to 999.99999%.
Selected from
approved data
sources.

(Proposed) Tier Optional Text.

Displays (if the information is available in the A code value


proposed RE/RO data source record) the level of scheme as defined
seniority of the Reference Obligation identified by by the applicable
the Proposed Reference Obligation Identifier data source.
Value.
Note that this field is provided for information
purposes only and does not impact the bilateral
Affirmation agreed between the parties.

(Proposed) Conditional Mandatory (subject to the (Proposed) System derives the


Reference Reference Entity Role field containing the value appropriate value
Obligation Guarantor). with which to
Primary Obligor populate this field
Indicates the identity of the Entity that is the issuer from data supplied

50

Annex 4
Field Options
Screen Term Meaning
/Selections
of the Reference Obligation. in relation to the
Note that this field only appears on the screen if Reference
the Reference Entity Role field contains the value Obligation sourced
Guarantor. Where the value in the Reference from the
Entity Role field is other than Guarantor, this field Appropriate Data
is not applicable. Source as defined
in the (Proposed)
Reference
Entity/Reference
Obligation Source.

Agree to Mandatory Ticked.


Primary Un-Ticked.
Mismatch Where any of the following items do not match:
(Only one option
Proposed Reference Entity Name and Internal
can be selected.)
Reference Entity Name;
Proposed Reference Obligation Identifier Type
and Internal Reference Obligation Identifier
Type;
Proposed Reference Obligation Identifier
Value and Internal Reference Obligation
Identifier Value; or
Proposed Reference Entity Role and Internal
Reference Entity Role.
Authorised employees with appropriate
permissioning can elect, through Ticking this
checkbox, to agree to such a Primary Mismatch.

Agree to Mandatory Ticked.


Secondary Un-Ticked.
Mismatch Where any of the following items do not match:
(Only one option
Proposed Reference Obligation Maturity Date
can be selected.)
and Internal Reference Obligation Maturity
Date; or
Proposed Reference Obligation Coupon Rate
and Internal Reference Obligation Coupon
Rate;
Authorised employees with appropriate
permissioning can elect, through Ticking this
checkbox, to agree to such a Secondary
Mismatch.

Internal
Note that the data shown within this Section of the RE/RO Comparison Template page
reflects the local data held at the User (derived from an Approved Data Source). It is
provided for information purposes only and does not apply to the bilateral Affirmation of the
CDS Transaction.

(Internal) Optional Text selected from


Reference approved data

51

Annex 4
Field Options
Screen Term Meaning
/Selections
Entity Name Details the full legal name of the internal data sources
record that equates (either exactly, closely or as
selected manually by the User) to the (Proposed)
Reference Entity for the Credit Derivative CDS
Transaction.

Note that this field is provided for information


purposes only and does not impact the bilateral
Affirmation agreed between the parties.

(Internal) RED Optional Formatted


Entity Identifier Specifies the identifier applicable to the internal alphanumeric data
data record that equates (either exactly, closely or as supplied by
as selected manually by the User) to the RED.
(Proposed) Reference Entity supplied by from the
RED data source.
Note that this field is provided for information
purposes only and does not impact the bilateral
Affirmation agreed between the parties.

(Internal) RED Optional Formatted


Pair Identifier Specifies the identifier applicable to the internal alphanumeric data
data record that equates (either exactly, closely or as supplied by
as selected manually by the User) to the RED.
(Proposed) Reference Entity and (Proposed)
Reference Obligation supplied by from the RED
data source.
Note that this field is provided for information
purposes only and does not impact the bilateral
Affirmation agreed between the parties.

(Internal) Optional Formatted


Reference Specifies the identifier (derived from the Internal alphanumeric data
Entity Identifier Data Source) applicable to the internal data record as supplied by the
that equates (either exactly, closely or as selected User.
manually by the User) to the (Proposed) Reference
Entity supplied by from the RED data source.
Note that this field is provided for information
purposes only and does not impact the bilateral
Affirmation agreed between the parties.

(Internal) Optional Formatted


RE/RO Pair Specifies the identifier (derived from the Internal alphanumeric data
Identifier Data Source) applicable to the internal data record as supplied by the
that equates (either exactly, closely or as selected User.
manually by the User) to the (Proposed) Reference
Entity and (Proposed) Reference Obligation
supplied by from the RED data source.
Note that this field is provided for information
purposes only and does not impact the bilateral
Affirmation agreed between the parties.

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Annex 4
Field Options
Screen Term Meaning
/Selections

(Internal) Optional Primary Obligor.


Reference Specifies the relationship between the (Internal) Guarantor.
Entity Role Reference Entity and (Internal) Reference (Only one option
Obligation. can be selected.)
Where Primary Obligor is selected, the (Internal) Selected from
Reference Entity is the Primary Obligor in relation approved data
to the (Internal) Reference Obligation. sources.
Where Guarantor is selected, the (Internal)
Reference Entity is Guarantor in relation to the
(Internal) Reference Obligation.
Note that this field is provided for information
purposes only and does not impact the bilateral
Affirmation agreed between the parties.

(Internal) Optional ISIN


Reference Specifies the Reference Obligation Identifier Type CUSIP
Obligation associated with the (Internal) Reference Obligation (Only one option
Identifier Type derived from the Internal Data Source. can be selected.)
Where ISIN is selected, the (Internal) Reference
Obligation Identifier Value is an International
Securities Identification Number.
Where CUSIP is selected, the (Internal)
Reference Obligation Identifier Value is a CUSIP
Number.
Note that this field is provided for information
purposes only and does not impact the bilateral
Affirmation agreed between the parties.

(Internal) Optional Formatted


Reference Specifies the Reference Obligation Identifier Value alphanumeric data
Obligation associated with the (Internal) Reference Obligation selected from
Identifier Value derived from the Internal Data Source. approved data
sources.
Note that this field is provided for information
purposes only and does not impact the bilateral In the format
Affirmation agreed between the parties. appropriate to the
Reference
Obligation Identifier
Type.

(Internal) Optional Standard date


Reference Specifies the Maturity date associated with the selection field.
Obligation (Internal) Reference Obligation derived from the Selected from
Maturity Date Internal Data Source. approved data
Note that this field is provided for information sources.
purposes only and does not impact the bilateral
Affirmation agreed between the parties.

(Internal) Optional Formatted


Reference Specifies the Approved Data Source from which alphanumeric data

53

Annex 4
Field Options
Screen Term Meaning
/Selections
Entity/Referenc the (Internal) Reference Entity and (Internal) selected from
e Obligation Reference Obligation data is taken. approved data
Source sources.
Note that all Users and End Users are
permissioned to one or more Approved Data In the format
Sources. Authorised employees at each User can appropriate to the
only make use of Reference Entity and Reference Reference
Obligation data to which they are permissioned. Obligation Identifier
Type.
Note that this field is provided for information
purposes only and does not impact the bilateral
Affirmation agreed between the parties.

(Internal) Optional Numeric


Reference formatted so that it
Specifies the Coupon rate associated with the appears as a % in
Obligation (Internal) Reference Obligation derived from the the range
Coupon Rate Internal Data Source.
0 to 999.99999%.
Note that this field is provided for information
purposes only and does not impact the bilateral Selected from
Affirmation agreed between the parties. approved data
sources.

(Internal) Tier Optional Text.

Displays (if the information is available in the A code value


internal RE/RO data source record) the level of scheme as defined
seniority of the Reference Obligation identified by by the applicable
the Internal Reference Obligation Identifier Value. data source.

Note that this field is provided for information


purposes only and does not impact the bilateral
Affirmation agreed between the parties.

(Internal) Optional System derives the


Reference appropriate value
Indicates the identity of the Entity that is, for the with which to
Obligation Internal Reference Obligation, the issuer of that
Primary Obligor populate this field
Obligation. from data supplied
Note that this field only appears on the screen if in relation to the
the Reference Entity Role field contains the value Reference
Guarantor. Where the value in the Reference Obligation sourced
Entity Role field is other than Guarantor, this field from the
is not applicable. Appropriate Data
Source as defined
Note that this field is provided for information in the (Internal)
purposes only and does not impact the bilateral Reference
Affirmation agreed between the parties. Entity/Reference
Obligation Source.

54

Annex 4
3.9 Processing

Field Options /
Screen Term Meaning
Selections

Exclude from Mandatory Ticked.


Clearing This box needs to be Ticked if the CDS Transaction Un-Ticked.
is to be excluded from clearing through a central (Only one option
clearing house or clearing system. Notwithstanding can be selected.)
this clause, it should be noted that parties are free
to agree outside of MarkitWire appropriate clearing
treatment of the CDS Transaction.
If the box remains empty (Un-Ticked) the parties
may subsequently agree that the CDS Transaction
be given up for clearing provided it meets any
applicable clearing house or clearing system
eligibility rules and provisions.

Manual Mandatory Ticked.


Confirm This box should be Ticked where the parties have Un-Ticked.
agreed that a manual Confirmation needs to be (Only one option
created and executed in respect of the CDS can be selected.)
Transaction.

Where this box is Ticked, the electronic record of


the CDS Transaction details should be treated as
being for information purposes only and normal
post trade confirmation procedures should be
applied by the User. As such, it should be noted
that, in such circumstances, the electronic record of
the CDS Transaction does not constitute a
Confirmation.

Note: This selection is read-only in the current


release. For bilaterally affirmed deals it will be Un-
Ticked and the User does not have the ability to
amend this value.
Where this field has been Ticked it indicates that
the deal has been recorded on the system pursuant
to Annex D or Annex E of the User Terms and is a
Single Sided Deal. As such, MarkitWire will set the
value of this field to Ticked. The User does not
have the ability to amend this value;
Where this field is Ticked and deal has been
submitted to the system by the User (either via the
MarkitWire Trader User Interface or via the
MarkitWire Dealer API), such a deal shall be a
Dealer-to-Dealer Single Sided Trade.
Where this field is Ticked and the deal has been
submitted to the system by a Broker, such a deal

55

Annex 4
Field Options /
Screen Term Meaning
Selections
shall be a Broker-to-Dealer Single Sided Trade.

Non Std Mandatory Ticked.


Settlement This box should be Ticked where payments are not Un-Ticked.
Inst to be made to the parties usual accounts i.e. (Only one option
standard settlement instructions. Parties should be can be selected.)
aware that where this field is active, it might have
an impact on their own internal systems and Note: This selection
controls. is unavailable in the
current release;
therefore the value
of this parameter is
Un-Ticked.

Trade ID Calculated Calculated


MarkitWire automatically populates this field when cannot be manually
the MarkitWire system recognises that a New Deal overridden.
has initially been sent. The number represents the Numeric.
deal specific trade identification for the Transaction.
It is shown to both parties of the Transaction.

Allocation ID Calculated Calculated


MarkitWire automatically displays and populates cannot be manually
this field when an allocation has been sent. The overridden.
number represents the Trade ID of the block trade Numeric.
that created this trade.

Prime Broker Calculated Calculated


ID MarkitWire automatically displays and populates cannot be manually
this field when a Prime Brokered trade has been overridden.
sent. The number represents the Trade ID of the Numeric.
Primary trade that created this trade

Exit Reason Conditional Mandatory (Mandatory when Contract Free format text.
State is Exit)
For a Transaction with a Contract State of Exit
(See Section 3.1 Main Contract State) this field
may record, for informational purposes only, the
reason for the Exit.

56

Annex 4
3.10 Clearing
With the exception of Bilateral Clearing House field, all other fields on this template
page are for informational purposes only.
Within the MarkitWire system, it is possible to flag a trade to be sent to clear through
a link with an approved Clearing House supported by MarkitWire and designated as
applicable by the parties (each, a Designated Clearing House). Unless the parties
have specified a Bilateral Clearing House, a Transaction will only be eligible to be
sent to the Designated Clearing House if all eligibility criteria is met and both parties
to the Transaction have indicated their mutual intent by selecting the same
Designated Clearing House and specifying "Yes" in Send For Clearing; provided
that, parties are free to agree outside of MarkitWire appropriate clearing treatment of
the Transaction regardless of any eligibility to clear or indicated desire to clear on
behalf of either party within the MarkitWire system.
Within the MarkitWire system, it will be possible to flag a trade as eligible for
Frontloading under the EMIR requirements.
The MarkitWire system will be updated to support the clearing deadlines and
frontloading deadlines which are yet to be finalized under EMIR. From the
Frontloading start date for Category 1 entities the MarkitWire system will calculate if
eligibility criteria are met and flag the trade accordingly. Until these deadlines are
finalized MarkitWire will not determine a value for the Frontloading field. The parties
will have the opportunity to override the MarkitWire system determination.
If a Transaction flagged as Frontloading and required to be cleared under EMIR is
not cleared by the clearing deadlines, the ISDA Frontloading Additional Termination
Event Amendment terms as agreed by the parties will be incorporated to the Master
Agreement if a bilateral agreement is signed by the parties to a Transaction.

Field Options /
Screen Term Meaning
Selections
Bilateral Conditional Mandatory (Mandatory if Client Drop down menu
Clearing House Clearing Deal is Ticked, Optional if Client Clearing
Deal is Un-Ticked)
This field specifies the Designated Clearing House
and must be affirmed by both parties. No
additional indication of mutual intent to clear or
satisfaction of eligibility criteria is necessary. When
populated, this field becomes part of the Trade
Affirmation.
Private Conditional Mandatory (Mandatory if Client Drop down menu
Clearing House Clearing Deal is Ticked, Optional if Client Clearing
Deal is Un-Ticked)
This field specifies the Designated Clearing House.
This field is not bilaterally affirmed and is for
informational purposes only.
Exclude from Mandatory Ticked or
Clearing
If Ticked, this field specifies the User or End User Un-Ticked
wishes the Transaction to be excluded from
clearing through a central clearing house or

57

Annex 4
Field Options /
Screen Term Meaning
Selections
clearing system. Notwithstanding this clause, it
should be noted that parties are free to agree
outside of MarkitWire appropriate clearing
treatment of the Swap Transaction.
If this field is Un-Ticked, the parties may
subsequently agree that the Swap Transaction be
given up for clearing provided it meets any
applicable clearing house or clearing system
eligibility rules and provisions.
Client Clearing Mandatory Ticked or
Deal
If Ticked, this field specifies the User or End User Un-Ticked
wishes the Transaction to be a client clearing deal
through a central clearing house or clearing
system. Notwithstanding this clause, it should be
noted that parties are free to agree outside of
MarkitWire appropriate clearing treatment of the
Swap Transaction.
Auto Send For Mandatory Ticked or
Clearing
If Ticked, this field specifies the User or End User Un-Ticked
wishes the Transaction to be automatically sent for
clearing through a central clearing house or
clearing system. Notwithstanding this clause, it
should be noted that parties are free to agree
outside of MarkitWire appropriate clearing
treatment of the Swap Transaction.
The Transaction will only be eligible for Clearing if
the Counterparty Entity has also Ticked Auto Send
to Clearing.
If this field is Ticked, the Send For Clearing field
will automatically be set to a value of Yes once
the Eligible for Clearing field is set to a value of
Yes.
Anonymous Optional Ticked or
Trade
If Ticked, this field specifies that the Broker marked Un-Ticked
a trade as an Anonymous trade via either the
Broker Load Services. MarkitWire, upon receiving
the information, will mask the counterparty details
from the User or End User. The masking of the
counterparty details will be performed on all
interfaces through which MarkitWire may reveal
such information.
JFSA Optional Ticked or
Mandatory
If Ticked, the User or End User indicates that the Un-Ticked
Clearing
Transaction must be cleared under the rules of the
JFSA.
Batch ID Calculated Alphanumeric input
This field specifies the alphanumeric indicator

58

Annex 4
Field Options /
Screen Term Meaning
Selections
which represents the internal backloading batch
identification. This field is only viewable to the
party who enters the information.
Send for Mandatory Not Determined,
Clearing This field specifies whether the User or End User Yes, No or
wishes MarkitWire to send the Transaction to the
Not Applicable
Designated Clearing House for clearing.
A value of Yes in this field indicates the User or
End User wishes to send an eligible Transaction
for clearing. It is not possible to set this field to a
value of Yes if MarkitWire has determined that
the trade is not eligible for clearing. Note, the
Transaction will only be eligible for Clearing if the
Counterparty Entity has also selected Yes in
Send for Clearing".
A value of No in this field indicates the User or
End User either does not wish to send an eligible
Transaction for clearing or wishes to indicate that
an ineligible Transaction will not be sent for
clearing.
A value of Not Determined in this field indicates
that the User or End User has either not yet set an
explicit value of Yes or No or that the trade is in
a state where the User or End User is not yet able
to make a selection.
A value of Not Applicable in this field indicates
that the Transaction is in a state where the Send
for Clearing field value is not relevant or applicable.
Last Updated Calculated Automatically
populated by the
This field is read only and specifies the time,
MarkitWire
expressed in Greenwich Mean Time, that the value
system when
in the Send for Clearing field was last changed.
applicable
Clearing Trade Calculated Automatically
ID populated by the
This field is read only and specifies the Designated
MarkitWire
Clearing House trade reference number assigned
system when
to a trade that is cleared by the Designated
applicable
Clearing House.
Eligibility/ Calculated Automatically
Eligible for
This field is read only and specifies whether the populated by the
Clearing
Transaction satisfies the MarkitWire maintained MarkitWire
clearing eligibility criteria and is eligible to be sent system with one
by MarkitWire to the Designated Clearing House of the following
for clearing. four values:
A value of Yes in this field indicates the
Transaction was eligible at the time its eligibility
Not Determined,
was last determined.
Yes, No or
A value of No in this field indicates the
Transaction was not eligible at the time its eligibility Not Applicable

59

Annex 4
Field Options /
Screen Term Meaning
Selections
was last determined.
A value of Not Determined in this field indicates
that the Transaction is in a state where its eligibility
has not yet been determined by MarkitWire.
A value of Not Applicable in this field indicates
that the Transaction is in a state where eligibility is
not relevant or applicable; for example, it may
already have been sent for clearing or may be in a
Cancelled state
Note: While the MarkitWire eligibility criteria are
based on the Designated Clearing House eligibility
criteria, any such Designated Clearing House may
reject a trade submitted to them via MarkitWire
which has previously been deemed to meet the
MarkitWire criteria. Such a situation would be a
matter for the User or End User to resolve direct
with the Designated Clearing House.
Similarly, a Transaction that does not meet the
MarkitWire eligibility criteria (which includes a
requirement that both parties have signed up to
appropriate MarkitWire documentation) may be
deemed eligible for clearing by the Designated
Clearing House.
A trade that is rejected by the Designated Clearing
House is clearly identified as such in MarkitWire.
Eligibility/ Last Calculated Automatically
Checked This field is read-only and specifies the time, populated by the
expressed in Greenwich Mean Time, that the MarkitWire system
Transactions eligibility for clearing was last when applicable
determined by MarkitWire.

Eligibility/ CCP Optional Ticked or


Validation
If Ticked, this field indicates a User-level override Un-Ticked
Override
to the application of Markit-Wire hosted clearing
house eligibility rules. The availability of this field
will be set through administrative settings for each
User.
Eligibility/ Calculated Automatically
Parties Eligible populated by the
This field is read only and specifies whether
MarkitWire
the parties involved in the Transaction are eligible
system with
to clear with each other.
either:
A value of Yes in this field indicates the parties
Not Determined,
were eligible at the time the eligibility was last
determined. Yes, No or
A value of No in this field indicates Not Applicable
the parties were not eligible at the time the
eligibility was last determined.
A value of Not Determined in this field indicates

60

Annex 4
Field Options /
Screen Term Meaning
Selections
that the Transaction is in a state where its eligibility
has not yet been determined by MarkitWire.
A value of Not Applicable in this field indicates
that the Transaction is in a state where eligibility is
not relevant or applicable; for example, it may
already have been sent for clearing or may be in a
Cancelled state.
Eligibility/ Calculated Automatically
Internal Rules populated by the
This field is read only and specifies whether
Eligible MarkitWire
the Transaction satisfies any applicable internal
system with one
clearing eligibility rules.
of the following
A value of Yes in this field indicates that the four values:
internal rules for the counterparty were satisfied at
Not Determined,
the time the eligibility was last determined.
Yes, No or
A value of No in this field indicates that the
internal rules for the counterparty were not satisfied Not Applicable
at the time the eligibility was last determined.
A value of Not Determined in this field indicates
that the Transaction is in a state where its eligibility
has not yet been determined by MarkitWire.
A value of Not Applicable in this field indicates
that the Transaction is in a state where eligibility is
not relevant or applicable; for example, it may
already have been sent for clearing or may be in a
Cancelled state.
Eligibility/ Calculated Automatically
Clearing House populated by the
This field is read only and specifies whether the
Eligible MarkitWire
Transaction satisfies the eligibility rules that have
system with one
been defined by the clearing house, for example,
of the following
the type of Transaction is one that is clearable by
four values:
the clearing house.
Not Determined,
A value of Yes in this field indicates
the Transaction was eligible based on the clearing Yes, No or
house rules at the time the eligibility was last
Not Applicable
determined.
A value of No in this field indicates
the Transaction was not eligible based on the
clearing house rules at the time the eligibility was
last determined.
A value of Not Determined in this field indicates
that the Transaction is in a state where its eligibility
has not yet been determined by MarkitWire.
A value of Not Applicable in this field indicates
that the Transaction is in a state where eligibility is
not relevant or applicable; for example, it may
already have been sent for clearing or may be in a
Cancelled state.

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Annex 4
Field Options /
Screen Term Meaning
Selections
Eligibility/ Calculated Automatically
MarkitWire This field is read only and specifies whether populated by the
Eligible the Transaction satisfies the MarkitWire eligibility MarkitWire
rules, for example, the Transaction is in an system with one
appropriate processing state. of the following
four values:
A value of Yes in this field indicates
the Transaction was eligible based on the Not Determined,
MarkitWire eligibility rules at the time the eligibility Yes, No or
was last determined. Not Applicable
A value of No in this field indicates the
Transaction was not eligible based on the
MarkitWire eligibility rules at the time the eligibility
was last determined.
A value of Not Determined in this field indicates
that the Transaction is in a state where its eligibility
has not yet been determined by MarkitWire.
A value of Not Applicable in this field indicates
that the Transaction is in a state where eligibility is
not relevant or applicable; for example, it may
already have been sent for clearing or may be in a
Cancelled state.
Netting String Optional Alphanumeric
This field specifies the alphanumeric identifier that input
allows the Designated Clearing House to net
trades sent to clearing together into groups.
The Netting String allows the User or End User to
provide their own common identifier to group
trades into a custom net.
Check Optional
Decleared
This button will verify if the trade has been
decleared. Only certain clearing houses
permit a declear action.
Token Issuer Read Only
This field specifies the issuer that provided the
Token ID.
Token ID Read Only
This field specifies the credit token provided by the
Token Issuer.
Clearing Status Optional Text

This field allows the Designated Clearing House to


record the clearing status of the Transaction.

This field is for informational purposes only.


Cleared Data/ Calculated Automatically
CCP Trade ID populated by the

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Annex 4
Field Options /
Screen Term Meaning
Selections
This field provides the trade identifier from the MarkitWire
Designated Clearing House. For most clearing system
houses, this field is populated after the trade is
successfully cleared/ registered.
Cleared Data/ Calculated Automatically
Cleared Trade This field specifies the unique swap identifier for populated by the
USI the Transaction. MarkitWire
system

Cleared Data/ Calculated CCP or


Cleared Trade This field specifies if the unique swap identifier was MW
USI/ provided by the Designated Clearing House or the
Input By MarkitWire system.
Cleared Data/ Calculated Automatically
Cleared Trade This field specifies the unique trade identifier for populated by the
UTI the Transaction. MarkitWire
system

Cleared Data/ Calculated CCP or


Cleared Trade This field specifies if the unique trade identifier was MW
UTI/ provided by the Designated Clearing House or the
Input By MarkitWire system.
Cleared Data/ Calculated Automatically
We CB UTI This field specifies the Cleared Trade UTI for the populated by the
trade between the User or End User and the MarkitWire
Vlearing Broker that takes up the trade. system

Cleared Data/ Calculated CCP or


We CB UTI/ This field specifies if the WE CB UTI was provided MW
Input By by the Designated Clearing House or the
MarkitWire system.
Cleared Data/ Calculated Automatically
Cleared Trade This field specifies the date and time of clearing for populated by the
Date and Time the Transaction. MarkitWire
system

Cleared Data/ Calculated CCP or


Cleared Trade This field specifies if the Cleared Date and Time MW
Date and Time/ were provided by the Designated Clearing House
Input By of the MarkitWire system.
Cleared Data/ Calculated ESMA,
Regulatory This field specifies which regulatory jurisdiction, if HKMA,
Reports/ Within any, the Transaction is subject. This field is ASIC or
Jurisdiction populated based on information provided at the
Legal Entity level or the particular User. MAS

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Annex 4
Field Options /
Screen Term Meaning
Selections
Cleared Data/ Calculated Do Not Report or
Regulatory This field specifies whether the Transaction will be Yes if ESMA
Reports/ ESMA ESMA reported if applicable. This field is
CCP Leg populated based on information provided at the
Legal Entity level or the particular User.
Cleared Data/ Calculated Do Not Report or
Regulatory This field specifies whether the Transaction will be Yes if HKMA
Reports/ HKMA HKMA reported if applicable. This field is
CCP Leg populated based on information provided at the
Legal Entity level or the particular User.
Cleared Data/ Calculated Do Not Report or
Regulatory This field specifies whether the Transaction will be Yes if ASIC
Reports/ ASIC ASIC reported if applicable. This field is populated
CCP Leg based on information provided at the Legal Entity
level or the particular User.
Cleared Data/ Calculated Do Not Report or
Regulatory This field specifies whether the Transaction will be Yes if MAS
Reports/ MAS MAS reported if applicable. This field is populated
CCP Leg based on information provided at the Legal Entity
level or the particular User.
Cleared Data/ Optional Ticked or
Inter Affiliate
If Ticked, this field specifies there is a clearing Un-Ticked
Clearing
Exemption exemption based on CFTC 17 CFR Part 50
Indicator RIN 3038-AD47 Clearing Exemption for Swaps
between Certain Affiliated Entities.
Cleared Data/ Calculated Automatically
Mandatorily
This field specifies that the MarkitWire system populated by the
Clearable MarkitWire
has determined the transaction to be system with:
mandatorily clearable under the jurisdiction of
the selected regulatory entity. This field is ESMA,
editable and the User or End User can specify CFTC or
any applicable regulatory entity at the time of JFSA
the transaction. The accuracy of the contents
This field is not
of this field must be verified by the party
read only and the
responsible for reporting to the selected User or End User
regulatory entity. can overwrite the
populated value.
Cleared Data/ Calculated Automatically
My Exemption
This field specifies that the MarkitWire system populated by the
MarkitWire
has determined applicable Clearing system with:
Exemption(s) for My Entity based on data
provided by the User or End User and the ESMA,
corresponding administrative settings. This CFTC or
field is editable and the User or End User can JFSA
specify any applicable My Exemption at the
This field is not
time of the transaction.
read only and the

64

Annex 4
Field Options /
Screen Term Meaning
Selections
User or End User
can overwrite the
populated value.
Cleared Data/ Calculated Automatically
CParty populated by the
Exemption
This field specifies that the MarkitWire system MarkitWire
has determined applicable Clearing system with:
Exemption(s) for the Counterparty Entity based
on data provided by the User or End User and ESMA,
the corresponding administrative settings. This CFTC or
field is editable and the User or End User can JFSA
specify any applicable CParty Exemption at
This field is not
the time of the transaction. read only and the
User or End User
can overwrite the
populated value.
ESMA Calculated Automatically
Frontloading populated by the
This field specifies that the applicable ESMA MarkitWire
Frontloading category for the transaction system with:
based on data provided by the User or End
User and corresponding administrative Category 1,
settings. This field is editable and the User
can specify any applicable category at the time Category 2,
of the transaction.
False,

Not applicable, or
This field currently is not a legally confirmable Blank
field. The MarkitWire system will not
determine a value until the ESMA Frontloading This field is not
category 1 start date. read only and the
User can
overwrite the
populated value.
ESMA Clearing Calculated Automatically
Exemption provided by the
MarkitWire
If Ticked, this field specifies there is a clearing system with
exemption based on the Pension Scheme Ticked or Un-
Exemption. This field is editable and the User Ticked.
or End User can specify if the ESMA Clearing
Exemption applies. This will be used to
calculate the value for ESMA Frontloading and This field is not
ESMA Mandatory Clearing. read only and the
User can
overwrite the
The Pension Scheme Exemption is defined as populated value.
the pension scheme exemption in Article 89 of
EMIR.

65

Annex 4
3.11 Regulatory Reporting
The information on this template page is for reporting purposes only and is not
incorporated into the Trade Affirmation. All Definitions described in Section 1 of this
Annex are not incorporated for purposes of this template page.

Field Options /
Screen Term Meaning
Selections
Within Mandatory Ticked or
Jurisdiction If Ticked, this field specifies that the transaction is Un-Ticked
Indicator within the jurisdiction of the ESMA, ASIC, MAS,
JFSA, Canada or Dodd-Frank reporting rules, as
applicable.

Reporting Conditional Mandatory We or


Counterparty This field is read only and specifies whether My Cpty
Entity or the Counterparty Entity is the reporting
party for this transaction.

Reporting Conditional Mandatory Automatically


Counterparty This field specifies the legal entity name of the populated by the
Name Reporting Counterparty and is automatically Markitwire system
populated based on the selection in the Reporting
Counterparty field.
Regulator Optional Broad Based,
Type This field specifies the regulatory agency type for the Narrow Based or
transaction. Mixed
Reporting Optional Yes if RCP or
Preference/ This field specifies whether the User or End User Do Not Report
RT wants MarkitWire to send real time reports. This field
will automatically populate based on User or End
User administrative settings.
Reporting Optional Yes,
Preference/ This field specifies whether the User or End User Yes if DF,
PET wants MarkitWire to send primary economic term Yes if RCP or
reports. This field will automatically populate based
on User or End User administrative settings. Do Not Report

Reporting Optional Yes,


Preference/ This field specifies whether the User or End User Yes if ESMA,
Prior to wants MarkitWire to send prior to confirmation Yes if JFSA
Confirmation snapshots. This field will automatically populate
based on User or End User administrative settings. Yes if ASIC,
Yes if MAS or
Do Not Report

66

Annex 4
Field Options /
Screen Term Meaning
Selections
Reporting Optional Yes,
Preference/ This field specifies whether the User or End User Yes if DF,
Confirmation wants MarkitWire to send confirmation reports. This Yes if Canada
field will automatically populate based on User or
End User administrative settings. Yes if ESMA,
Yes if JFSA,
Yes if ASIC,
Yes if MAS
Yes if RCP or
Do Not Report
Reporting Optional Yes,
Preference/ This field specifies whether the User or End User Yes if DF,
Post Trade wants MarkitWire to send reports for post trade Yes if RCP or
Event events. This field will automatically populate based
on User or End User administrative settings. Do Not Report
Reporting Optional Yes if ESMA
Preference/ This field specifies whether the User or End User Yes if JFSA,
CCP LEG wants MarkitWire to send reports once a trade has Yes if ASIC,
been cleared by the Designated Clearing House.
Yes if MAS
or
Do Not Report
Mid-Market Optional Price,
Price/ Type This field specifies the quotation type for the Mid- Percentage,
Market Price Value Basis Points or
Level
Mid-Market Optional ISO country code
Price/ This field specifies the currency code for the Mid-
Currency Market Price Value.
Mid-Market Optional Decimal input up
Price/ Value This field specifies the mid-market price at the to 6 decimal
Execution Time as provided by the User. places

67

Annex 4
Field Options /
Screen Term Meaning
Selections
Report Calculated Alphanumeric
Identifiers/ This field specifies the unique trade identifier for the input
UTI Transaction.
Report Calculated Alphanumeric
Identifiers/ This field specifies the previous unique trade input
Prior UTI identifier relating to a block transaction.
Report Calculated Alphanumeric
Identifiers/ This field specifies the block unique trade identifier input
Block UTI relating to a transaction.
Report Calculated (CFTC) 10 digit numeric
Identifiers/ This field specifies the unique swap identifier for the identifier
USI Transaction. (Namespace field)
Alphanumeric
input up to 32
characters (Value
field)
Report Calculated (CFTC) 10 digit numeric
Identifiers/ This field specifies the previous unique swap identifier
Block USI identifier relating to a block transaction. (Namespace field)
Alphanumeric
input up to 32
characters (Value
field)
Report Calculated (CFTC) 10 digit numeric
Identifiers/ This field specifies the block unique swap identifier identifier
Prior USI relating to a transaction. (Namespace field)
Alphanumeric
input up to 32
characters (Value
field)
Reportable Calculated (Canada) Alberta (AB),
Locations/ This field specifies the provinces or territories for British Columbia
We which the User or End User is required to report. (BC), Manitoba
This information is calculated from information (MB), New
provided by the User or End User and held in the Brunswick (NB),
static data of the MarkitWire system. Newfoundland and
Labrador (NL),
Nova Scotia (NS),
In the current release, only Ontario, Manitoba and Northwest
Quebec are supported values. Territories (NT),
Nunavut (NU),
Ontario (ON),
Prince Edward
Island (PEI),
Quebec (QC),
Saskatchewan
(SK), Yukon (YT)

68

Annex 4
Field Options /
Screen Term Meaning
Selections
Reportable Calculated (Canada) Alberta (AB),
Locations/ This field specifies the provinces or territories for British Columbia
Cparty which the Counterparty to the trade is required to (BC), Manitoba
report. This information is calculated from (MB), New
information provided by the Counterparty and held in Brunswick (NB),
the static data of the MarkitWire system. Newfoundland and
Labrador (NL),
Nova Scotia (NS),
In the current release, only Ontario, Manitoba and Northwest
Quebec are supported values. Territories (NT),
Nunavut (NU),
Ontario (ON),
Prince Edward
Island (PEI),
Quebec (QC),
Saskatchewan
(SK), Yukon (YT)
Propagate USI Conditional Mandatory Ticked or
to UTI (best If Ticked, this field specifies the User or End User Un-Ticked
practice) instructs the MarkitWire system to automatically
Indicator populate all UTI fields with the information found in
the USI fields. This field defaults to Ticked, and will
be read-only if the Transaction is reportable under
CFTC and one of JFSA, ASIC and/or MAS.
Beneficiary ID Optional Dropdown menu
Prefix This field specifies the prefix for the value provided in
the Beneficiary ID Party 1 Value field

Beneficiary ID Optional Alphanumeric


Value This field, when combined with any Beneficiary ID input up to 50
Prefix, specifies the beneficiary party. characters

Branch Optional ISO country code


Location This field specifies the country of origin for an
overseas branch of the legal entity for My Entity. An
entry in this the field will cause regulatory reports to
be created for the regulators in the country identified,
in addition to the prudential regulator of the legal
entity.
Trading Optional Principal or
Capacity This field specifies whether the reporting Agent
counterparty has concluded the contract as the
principal of its own account (on own behalf or behalf
of a client) or as an agent for the account of and on
behalf of a client.
Commercial Optional Ticked or
Activity/ If Ticked, this field specifies the contract is Un-Ticked
Treasury objectively measurable as directly linked to the
Financing reporting counterparty's commercial or treasury

69

Annex 4
Field Options /
Screen Term Meaning
Selections
Indicator financing activity, as referred to in Art. 10(3) of
Regulation (EU) No 648/2012.
GTR Report Optional Alphanumeric
Event ID This field specifies the identifying code when the input up to 30
transaction is a life cycle event. characters

GTR Blk Optional Alphanumeric


Event This field specifies the identifying code when the input up to 30
Processing ID transaction is submitted as part of a multi-transaction characters
event.
Locations/ Optional ISO country code
Broker This field specifies the physical location of the broker
for the transaction
Locations/ Optional ISO country code
Desk This field specifies the physical location of the
trading desk executing the transaction
Locations/ Optional Text input
Executing This field specifies the name of the trader executing
Trader (Name) the transaction

Locations/ Optional ISO country code


Executing
Trader This field specifies the physical location of the trader
(Location) executing the transaction
Locations/ Optional Text input
Sales Trader This field specifies the name of the sales desk for the
(Name) transaction

Locations/ Optional ISO country code


Sales Trader
(Location) This field specifies the physical location of the sales
desk for the transaction
Product ID Calculated Automatically
Type This field specifies the relevant MarkitWire product populated by the
type for the transaction. MarkitWire system
UPI Calculated Automatically
This field is read only and specifies the Unique populated by the
Product Identifier for the transaction. MarkitWire system

Collateralized Optional Uncollateralized,


This field specifies the manner in which the Partially
transaction is collateralized. Collateralized,
One-Way
Collateralized or
Fully Collateralized
Embedded Optional Cancellable
Option This field specifies whether the transaction has an Provision,

70

Annex 4
Field Options /
Screen Term Meaning
Selections
embedded option. Extendible
Provision,
Optional Early
Termination or
Blank
Off Platform Optional Electronic,
Verified This field specifies if the transaction was Non-Electronic or
electronically verified on the MarkitWire system or Blank
verified by non-electronic means off of the
MarkitWire system.
Execution Optiopnal Date and time
Time This field specifies the time and date of execution of
the reportable swap transaction in Coordinated
Universal Time (UTC).
Off Platform Optional Electronic,
Confirmed This field specifies if the transaction was Non-Electronic or
electronically confirmed on the MarkitWire system or Blank
confirmed by non-electronic means off of the
MarkitWire system.
Confirmation Optional Date and Time
Time This field specifies the business date and time of the
confirmation.
Collateral Optional Numeric input
Portfolio This field specifies the unique code determined by
Code the reporting counterparty if collateral is reported on
a portfolio basis.
Lifecycle Optional Automatically
Event populated by the
MarkitWire system
This field specifies the lifecycle event that results in with one of the
the submission of a report based on an intra-day following:
event.
New,
Termination,
Foreign Exchange,
Equity or
Commodity

Compression Optional Ticked or


If Ticked, this field specifies that the transaction is Un-Ticked
part of a compression event.
Execution Optional SEF,
Venue This field specifies the type of venue where the DCM,
Transaction was executed. ETP,
Off-Facility or

71

Annex 4
Field Options /
Screen Term Meaning
Selections
QMTF
Primary Asset Calculated Automatically
Class This field specifies the primary MarkitWire asset populated by the
class of the transaction. MarkitWire system
with one of the
following:
Credit,
Interest Rate,
Foreign Exchange,
Equity or
Commodity
Secondary Optional Drop down menu
Asset Class This field specifies the secondary MarkitWire asset
class(es) for a multi-asset class transaction.
Price Optional Price,
(Quotation This field specifies the quotation style of the price for Basis Point or
Style) the transaction. Percentage
Price Optional Numeric input
(Value) This field specifies the price value for the transaction.
Additional Optional Price,
Price This field specifies the quotation style of any Basis Point or
(Quotation additional price for the transaction. Percentage
Style)
Additional Optional Numeric input
Price This field specifies the price value for any additional
(Value) price for the transaction.
Non-Std Optional Ticked or
Indicator If Ticked, this field specifies there are other price Un-Ticked
affecting terms for a non standard transaction.
Clearing Optional Ticked or
Mandatory If Ticked, this field specifies the transaction is Un-Ticked
Indicator mandated to be cleared by the applicable reporting
agency.
Clearing Optional Ticked or
Exception If Ticked, this field specifies a clearing exception has Un-Ticked
Indicator been invoked.
Intent to Clear Optional Ticked or
If Ticked, this field specifies the User or End User Un-Ticked
intends to clear the transaction at the Designated
Clearing House.
Price Forming Optional Ticked or
Indicator If Ticked, this field specifies the life cycle event is Un-Ticked
price forming and therefore MarkitSERV should send

72

Annex 4
Field Options /
Screen Term Meaning
Selections
a real time report.
Block Trade Optional Ticked or
Indicator If Ticked, this field specifies the Transaction is a Un-Ticked
block trade.
Regulatory Optional Ticked or
Reportable If Ticked, this field is a regulatory reporting override Un-Ticked
Indicator and if Ticked, then no PET, CONF or STATE
messages will be sent to the SDR. Voluntary reports
may still be sent to the GTR and this checkbox does
not affect real time reporting.
Repository/ Optional DTCC SDR,
Routing: This field specifies the SDR or Trade Repository to CME SDR,
Destination which the RCP is reporting the Transaction.
SDR/ TR Unspecified or
Blank
Repository/ Optional DTCC GTR,
Routing: This field specifies the Intermediary used by the None or
Intermediary/ RCP for reporting the Transaction to the Destination Blank
Via SDR/ TR.
Price Optional Price,
(Quotation This field specifies the quotation style of the price for Basis Point or
Style) the transaction. Percentage
Price Optional Numeric input
(Value) This field specifies the price value for the transaction.

73

Annex 4
3.12 Novations

Field Options /
Screen Term Meaning
Selections

Outgoing Mandatory Legal entity name.


Party This field specifies the name of the User or End User (Automatically
(and where applicable, the office through which that populated by
User or End User is acting) which transfers by MarkitWire using
novation to the Incoming Party all of its rights, information
liabilities, duties and obligations with respect to the provided in the
Remaining Party under and in respect of the original trade.)
Novated Amount of the Transaction. The field is
automatically populated.
In a three-way novation this party is the Transferor
per the 2004 ISDA Novation Definitions and
transfers by novation its rights, liabilities, duties and
obligations to the Transferee (the Incoming Party).
In a four-way novation this party is Transferor 1 per
the 2004 ISDA Novation Definitions and transfers by
novation its rights, liabilities, duties and obligations to
Transferee 1 (the Incoming Party).
Where the User or the End User through which the
authorised employee is acting has several Branches,
the User or the End User, as the case may be, is
required to ensure that both the full legal name of the
legal entity and the Branch are displayed. This will
be effected through the appropriate administration
configuration.

74

Annex 4
Remaining Mandatory Legal entity name.
Party This field specifies the name of the User or End User (Automatically
for whom the authorised employee is acting (and populated by
where applicable, the office through which that User MarkitWire using
or End User is acting) which consents to the information
Outgoing Partys transfer by novation and the provided in the
acceptance thereof by the Incoming Party all of the original trade.)
Outgoing Partys rights, liabilities, duties and
obligations with respect to such User under and in
respect of the Novated Amount of the Transaction.
The field is automatically populated.
In a three-way novation this party is the Remaining
Party per the 2004 ISDA Novation Definitions.
In a four-way novation this party is Transferor 2 per
the 2004 ISDA Novation Definitions and acts in the
role of a Transferor. Transferor 2 transfers by
novation to Transferee 2 (the New Remaining Party)
its rights, liabilities, duties and obligations with
respect to Transferor 1.
Where the User or the End User through which the
authorised employee is acting has several Branches,
the User or the End User, as the case may be, is
required to ensure that both the full legal name of the
legal entity and the Branch are displayed. This will
be effected through the appropriate administration
configuration.

Incoming Mandatory Legal entity name.


Party This field specifies the name of the User or End User
(and where applicable, the office through which that
User or End User is acting) which accepts by way of
a novation all of the rights, liabilities, duties and
obligations of the Outgoing Party with respect to the
Remaining Party under and with respect to the
Novated Amount of the Transaction.
In a three-way novation this party is the Transferee
per the 2004 ISDA Novation Definitions and accepts
by way of novation the rights, liabilities, duties and
obligations of the Transferor (the Outgoing Party).
In a four-way novation this party is Transferee 1 per
the 2004 ISDA Novation Definitions and accepts by
way of novation the rights, liabilities, duties and
obligations of Transferor 1 (the Outgoing Party).
Where the User or the End User through which the
authorised employee is acting has several Branches,
the User or the End User, as the case may be, is
required to ensure that both the full legal name of the
legal entity and the Branch are displayed. This will
be effected through the appropriate administration
configuration.

75

Annex 4
New Conditional Mandatory (Subject to selection of 4- Legal entity name.
Remaining Way Novation)
Party In a four-way novation this field specifies the name
of the User or End User for whom the authorised
employee is acting (and where applicable, the office
through which that User or End User is acting) which
accepts by way of a novation all of the rights,
liabilities, duties and obligations of the Remaining
Party with respect to the Incoming Party under and
with respect to the Novated Amount of the
Transaction.
This party is Transferee 2 per the 2004 ISDA
Novation Definitions and accepts by way of novation
the rights, liabilities, duties and obligations of
Transferor 2 (the Remaining Party).
This field is not applicable in a three-way novation.
Where the User or the End User through which the
authorised employee is acting has several Branches,
the User or the End User, as the case may be, is
required to ensure that both the full legal name of the
legal entity and the Branch are displayed. This will
be effected through the appropriate administration
configuration.

4-Way Optional Ticked.


Novation If the field is Ticked then the Novation is a Four-Way Un-Ticked.
Novation Agreement. (Only one option
If the field Un-Ticked then the Novation is a three- can be selected.)
way Novation Agreement.

Novated Mandatory Automatically


Amount Novated Amount per the 2004 ISDA Novation populated by
Definitions. This represents the portion of the Old MarkitWire using
Transaction being novated. information
provided in the
original trade.

Full First Optional Ticked.


Calculation This field specifies whether the Full First Calculation Un-Ticked.
Period Period is applicable or inapplicable to the Trade, in (Only one option
accordance with Section 1.20 of the 2004 ISDA can be selected.)
Novation Definitions.

1st Fixed Mandatory Automatically


Period Start The commencement date of the initial Calculation populated by
Date Period with respect to the New Transaction initial MarkitWire.
Fixed Rate Payer Payment Date.

Non-reliance Mandatory Ticked.


The parties select whether they wish the 2004 ISDA Un-Ticked.
Novation Definitions, Section 2.1 (c.) to be (Only one option
incorporated. can be selected.)

76

Annex 4
Credit Event Mandatory Ticked.
Indicates whether a Credit Event Notice delivered Un-Ticked.
under the Old Transaction is deemed delivered (Only one option
under the New Transaction per the 2004 ISDA can be selected.)
Novation Definitions.

Publicly Mandatory Ticked.


Available Indicates whether a Notice of Publicly Available Un-Ticked.
Information Information delivered under the Old Transaction is (Only one option
deemed delivered under the New Transaction per can be selected.)
the 2004 ISDA Novation Definitions.

Physical Mandatory Ticked.


Settlement Indicates whether a Notice of Physical Settlement Un-Ticked.
delivered under the Old Transaction is deemed (Only one option
delivered under the New Transaction per the 2004 can be selected.)
ISDA Novation Definitions.

Novation ID Calculated Automatically


A MarkitWire identifier code which links the Novation populated by
Transaction to the Old Transaction and New MarkitWire.
Transaction on the MarkitWire system.

Cancellation Mandatory Automatically


Of The Trade ID for the Old Transaction on the populated by
MarkitWire system. MarkitWire using
information
Note that this field is not relevant to the Incoming provided in the
Party and not seen in their view of this template original trade.
page.

Creation Of Mandatory Automatically


The Trade ID for the New Transaction on the populated by
MarkitWire system. MarkitWire.

Note that this field is not relevant to the Outgoing


Party and not seen in their view of this template
page.

Trade Date of Mandatory Automatically


Old Trade The Trade Date of the Old Transaction. populated by
MarkitWire using
information
provided in the
original trade.

Start Date of Mandatory Automatically


Old Trade The Effective Date of the Old Transaction. populated by
MarkitWire using
information
provided in the
original trade.

End Date Mandatory Automatically


This represents the Termination Date of both the Old populated by
Transaction and the New Transaction. MarkitWire using
information

77

Annex 4
provided in the
original trade.

Novation Mandatory Standard date


Trade Date The Novation Trade Date per the 2004 ISDA selection field.
Novation Definitions. This represents the date on
which the parties enter into the Novation
Transaction.

Novation Date Mandatory Standard date


The Novation Date per the 2004 ISDA Novation selection field.
Definitions. This represents the date on which the
provisions of Section 2 of the ISDA Novation
Agreement become effective.

78

Annex 4
4 MarkitWire Default Values and Further
Provisions
4.1 ISDA Master Agreement
Where ISDA has been selected by the parties as the Master Agreement Type on the
General Terms Template page (Section 3.2), an ISDA Master Agreement governs
each Transaction. Each User agrees to each of the following provisions for the
benefit of MarkitWire and each relevant MarkitWire Participant.

4.1.1 Default Master Agreement


In the event that a particular ISDA Master Agreement is not designated as
governing a Transaction or if the designated Master Agreement does not exist or
cannot be used for such Transaction (a No Designated Master Agreement
Trade), and subject to the parties to that Transaction not having agreed
otherwise, the User hereby agrees that:

(a) the No Designated Master Agreement Trade constitutes a Transaction and


the Trade Affirmation for that No Designated Master Agreement Trade
constitutes a Confirmation (subject to Section 2.1) as referred to in the
Default Master Agreement (as defined below);

(b) if the User has entered into one or more ISDA Master Agreements with that
MarkitWire Participant, the Default Master Agreement shall be the most
recently dated applicable ISDA Master Agreement between them relevant
to that type of Transaction and any Confirmation entered into MarkitWire
since the date of such agreement shall supplement, form a part of, and be
subject to such agreement;

(c) if the User has not entered into any ISDA Master Agreement with the
MarkitWire Participant, the User and the MarkitWire Participant agree to use
their reasonable efforts promptly to negotiate, execute and deliver an ISDA
Master Agreement between them. Until the User and the MarkitWire
Participant execute and deliver the ISDA Master Agreement, the Trade
Affirmation for the No Designated Master Agreement Trade, the Trade
terms of that Trade shall supplement, form a part of, and be subject to, an
agreement in the form of the ISDA Master Agreement (1992 Multicurrency-
Cross Border version). The ISDA Master Agreement (1992 Multicurrency-
Cross Border version) shall be the Default Master Agreement and will apply
as if the User and the MarkitWire Participant had executed an agreement in
such form (but without any schedule thereto except for the election of
English law as the governing law or the laws of the State of New York
without reference to choice of law doctrine where both parties are duly
organised and validly existing under such law by its organisation or
incorporation, or unless the parties expressly and specifically state
otherwise in writing) with US dollars as the Termination Currency on the
date of the first No Designated Master Agreement Trade between the User
and the MarkitWire Participant. In the event of any inconsistency between
the provisions of the Default Master Agreement and the Trade Affirmation,

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the Trade Affirmation prevails for the purposes of that No Designated
Master Agreement Trade; and

(d) in the event that the parties later negotiate, execute and deliver an
agreement in the form of the ISDA Master Agreement (1992 Multicurrency-
Cross Border version) such agreement shall, following execution govern
any Transactions between the parties until such time as the parties enter
into a different or replacement ISDA Master Agreement and agree that such
ISDA Master Agreement is to govern such Transactions.

4.1.2 Credit Support


Where an ISDA Master Agreement has been executed by the parties and a Credit
Support Document such as a Credit Support Annex has also been executed, such
Credit Support Document will also apply in respect of Transactions entered into via
MarkitWire in accordance with its terms.

4.2 Counterparty Names


Counterparty Entity names that are shown on the Main Template page (Section 3.1)
state the relevant legal name of MarkitWire Participants. Each authorised employee
has authority to act on behalf of that MarkitWire Participant in accordance with the
User Terms.

The fields shall also specify the particular Branch, if any, through which the
MarkitWire Participant is acting. Where an authorised employee is able to deal on
behalf of more than one MarkitWire Participant, the authorised employee has the
option to select the relevant name from a list set up and maintained by the
administrator.

Where the MarkitWire Participant through which the authorised employee is acting
has Branches, the User is required to ensure that both the full legal name of the legal
entity and the Branch are displayed on the Main Template page. This will be
effected through appropriate User administration configuration.

4.3 Reference Entity, Reference Obligation and Excluded


Obligation Data
MarkitWire will allow, subject to appropriate configuration and permissioning,
authorised employees to access CUSIP-linked MIP codes provided through the
Mark-it Pairs and Mark-it Entities reference data (RED) services
provided by Markit Group Ltd.
Users and End Users should note that access to this data on the MarkitWire System
is only provided once suitable agreement has been reached between the User and
Markit Group Ltd, and such agreement has been communicated to MarkitWire by
Markit Group Ltd Access to the foregoing data may be terminated by MarkitWire at
any time.

MarkitWire will allow, subject to appropriate configuration and permissioning,


authorised employees to access other information as they are provided by the User
or by any other third party through databases on the MarkitWire System, from time to
time.

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Annex 4
The User agrees that the foregoing data is made available for its internal use only
and that the User is prohibited from re-distributing, transferring or disclosing any of
the foregoing data to any third party, in whole or part, in any form or by any means,
except as specifically permitted by the data provider.

MarkitWire makes no representations or warranties as to the suitability of this data


for any particular CDS Transaction and the User agrees that MarkitWire shall have
no liability whatsoever for any errors, omissions or inaccuracies contained within the
RED reference data or any other data on the MarkitWire System.

No third party data provider (including without limitation Markit Group Ltd) make any
representation or warranty as to the suitability of the data for any particular CDS
Transaction. The User further agrees that no third party data provider (including
without limitation Markit Group Ltd) makes any representations or warranties as to,
or shall have any liability whatsoever whether in contract, tort (including, but not
limited to, negligence) or otherwise (i) in relation to, the quality, fitness for purpose,
completeness or accuracy of the data, (ii) for any errors, omissions or inaccuracies
contained within the RED reference data or any other data on the MarkitWire System
or (iii) for any loss or damage arising out of or in connection with the use of the data
or any indirect or consequential loss or loss of profits, business, revenue or
contracts. In addition, the User agrees that it is subject to any legends, disclaimers,
and notices appearing from time to time in the foregoing data. The User agrees to
extend rights under the Contracts (Rights of Third Parties) Act 1999 to the relevant
third party as required to allow the relevant third party to utilize this provision.

At all times it remains the responsibility of the User to ensure that the values
contained within each field on each Template page are consistent with the
authorised employees intentions with respect to the CDS transaction.

4.3.1 Reference Entity


Reference Entity names that are shown on the Main Template page (Section 3.1)
and RE/RO Template page (Section 3.8) state the relevant full legal name of the
Reference Entity.

Where there is a contradiction between the (Proposed) Reference Entity Name


and the RED Identifier, the (Proposed) Reference Entity Name will take
precedence.

4.3.2 Reference Obligation


Reference Obligation identifiers that are shown on the Main Template page
(Section 3.1) and RE/RO Template page (Section 3.8) show the appropriate
CUSIP or ISIN code for the Reference Obligation.

Where there is a contradiction between the (Proposed) Reference Obligation


Identifier Type/Value combination and the RED Identifier, the (Proposed)
Obligation Identifier Type/Value combination will take precedence.

Furthermore, where there is a contradiction between the (Proposed) Reference


Obligation Identifier Type/Value combination and the RED Identifier, the
(Proposed) Obligation Identifier Type/Value combination will take precedence.

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Annex 4
4.3.3 Excluded Obligations
If the Reference Entity is the Republic of Hungary, the Additional Provisions for
the Republic of Hungary published on August 13, 2004 on ISDAs website,
www.isda.org, are automatically incorporated into the CDS Transaction.

If the Reference Entity is the Russian Federation, the Additional Provisions for
the Russian Federation published on August 13, 2004 on ISDAs website,
www.isda.org, are automatically incorporated into the CDS Transaction.

4.4 Trade Date and Scheduled Termination Date


4.4.1Trade Date
The relevant Trade Date of any Transaction entered into MarkitWire shall be the
date when a complete CDS Transaction is first agreed. In the event that the
parties amend a Transaction the Trade Date shall not change.

4.4.2 Scheduled Termination Date


Unless indicated on the General Terms Template page (Section 3.2) the final
Fixed Rate Payer Calculation Period will end on, and include, the earlier to occur
of the Scheduled Termination Date and the Event Determination Date and the
Scheduled Termination Date shall not be subject to adjustment in accordance
with any Business Day Convention.

In the event that the Adjust Scheduled Termination Date Indicator (General
Terms Page (Section 3.2)) has been Ticked, the Scheduled Termination Date will
be adjusted in accordance with the Business Day Convention and Business Days
as specified on the General Terms Template page (Section 3.2).

4.5 Calculation Agent


5.5.1 Calculation Agent for a CDS Transaction
The Calculation Agent for the purposes of a CDS Transaction shall be
determined by reference to the Calculation Agent field (General Terms Template
page (see Section 4.3)), selection contained therein identifying which of the
parties shall assume the role of Calculation Agent.

4.6 Fixed Rate Payer Calculation Periods


The Fixed Rate Payer Calculation Periods for a CDS Transaction entered into
MarkitWire are determined using a number of parameters held within the CDS
Transaction Template, namely:

the Start Date and the End Date on the Main Template page (Section 3.1);
the Fixed Payment Frequency (Section 3.1);
the Stub At field value on the Fixed Payments Template page (Section 3.3);
the Stub Type field value (Section 3.3);

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Annex 4
the Month End Rolls Indicator (Section 3.3); and
the Adjust Scheduled Termination Date Indicator stated on the General Terms
Template page (Section 3.2).
For MarkitWire purposes, the Fixed Rate Payer Payment Dates fall on the last day of
each relevant Fixed Rate Payer Calculation Period (and on the Upfront Fee Payment
Dates, if applicable) provided that, if an Event Determination Date occurs, the earlier
of the Termination Date and the first Settlement Date with respect to the Credit Event
to which such Event Determination Date relates, shall be the final Fixed Rate Payer
Payment Date.

Where the Term of the CDS Transaction is an integer multiple of the Fixed Payment
Frequency period then Standard Fixed Rate Payer Calculation Periods shall apply:
the Fixed Rate Payer Period End Dates shall be each date falling one Fixed
Payment Frequency period after the previous Fixed Rate Payer Period End Date,
starting on the date falling one Fixed Payment Frequency period after the Effective
Date and ending in accordance with Section 4.4.2. For example:

Start Date: 20 June 2003


End Date: 20 June 2008
Fixed Payment Frequency: 3m (3 months)
In the above example Standard Fixed Rate Payer Calculation Periods shall apply
because the Term is exactly 5 years which divides evenly into 3 month periods with
no remainder, and the Fixed Rate Payer Period End Dates shall be the 20th day (the
Roll Day, see Section 3.3) of each month of March, June, September, and
December from, and including, 20 September 2003 to, and including, 20 June 2008.

If the terms of the above example were changed to either:


Start Date: 13 May 2003
End Date: 20 June 2008
Fixed Payment Frequency: 3m (3 months)
or:

Start Date: 20 June 2003


End Date: 1 June 2008
Fixed Payment Frequency: 3m (3 months)
then Standard Fixed Rate Payer Calculation Periods shall not apply. In both cases,
the Term of the CDS Transaction is not an exact integer multiple of the Fixed
Payment Frequency period and, therefore, a Stub Period is deemed to exist.

For any CDS Transaction entered into MarkitWire, a Stub Period may only exist at
the beginning or the end of the CDS Transaction, but not both.

4.6.2 Determination of Stub Periods


A Stub Period exists if the Term of the CDS Transaction is not an integer multiple
of the Fixed Payment Frequency period. If the day of the month of the End Date
is different to the day of the month of the Start Date then a Stub Period will also
exist except where:

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Annex 4
a) Month End Rolls (Section 3.3) have been selected and the Start Date falls on
or after the last Business Day of the month and the End Date is the last calendar
day of the month.

b) Month End Rolls have not been selected, but due to fewer days occurring in
the End Date month compared to the Start Date month, the day of the month of
the Start Date does not have a numerical equivalent in the End Date month but
the End Date is still the last calendar day of the month.

Any applicable Stub Period relevant to a CDS Transaction will be the first Fixed
Rate Payer Calculation Period at the start of the CDS Transaction when the value
in the Stub At field (see Fixed Payments Template page (Section 3.3)) is Start.
Conversely, the Stub Period will be the last Fixed Rate Payer Calculation Period
at the end of the CDS Transaction when the value in the Stub At field is End.

IF THE STUB PERIOD IS AT START OF THE CDS TRANSACTION

To ascertain the Stub Period when it is Short:

The Stub Period will be short when the MarkitWire system determines that a Stub
Period is applicable (indicated by the Fixed Payment Stub Indicator on the Main
Template page (Section 3.1) displaying a value of Ticked) and the value in the
Stub Type field (see Fixed Payments Template page (Section 3.3)) is Short. In
this case:

Subtract multiples of the Fixed Payment Frequency period from the End Date
until subtracting one more Fixed Payment Frequency period would result in a
date earlier than the Effective Date and this will identify the end date of the Stub
Period (the First Regular Fixed Rate Payer Payment Date). The end date of
the Stub Period is displayed in the First Fixed Rate Payer Payment Date field on
the Fixed Payments Template page (Section 3.3).

If the Stub Period is at the Start of a CDS Transaction and the Stub Period is
Short, the Fixed Rate Payer Period End Dates shall be:

(iii) the dates (bearing the same calendar number (the Roll Day) as the
Scheduled Termination Date without, for the purpose of determining the
calendar number of the Scheduled Termination Date, having regard to any
Business Day Convention applicable to the CDS Transaction - see Section
3.3), falling one Fixed Payment Frequency period after the previous Fixed
Rate Payer Period End Date, starting on the First Regular Fixed Rate Payer
Payment Date and ending in accordance with Section 4.4.2;

(iv) unless Month End Rolls is selected in which case the Fixed Rate Payer
Period End Dates shall be the last calendar day of each month falling one
Fixed Payment Frequency period after the previous Fixed Rate Payer Period
End Date, starting the month of the First Regular Fixed Rate Payer Payment
Date and ending in accordance with Section 4.4.2.

To ascertain the Stub Period when it is Long:

The Stub Period will be long when the MarkitWire system determines that a Stub
Period is applicable (indicated by the Fixed Payment Stub Indicator on the Main
Template page (Section 3.1) displaying a value of Ticked) and the value in the

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Annex 4
Stub Type field (see Fixed Payments Template page (Section 3.3)) is Long. In
this case:

Subtract multiples of the Fixed Payment Frequency period from the End Date
until subtracting one more Fixed Payment Frequency period would result in a
date earlier than the Start Date and then add one Fixed Payment Frequency
period to ascertain the end date of the Stub Period (the First Regular Fixed
Rate Payer Payment Date). The end date of the Stub Period is displayed in the
First Fixed Rate Payer Payment Date field on the Fixed Payments Template
page (Section 3.3).

If the Stub Period is at the Start of a CDS Transaction and the Stub Period is
Long, the Fixed Rate Payer Period End Dates shall be:

(iii) the dates (bearing the same calendar number (the Roll Day) as the
Scheduled Termination Date without, for the purpose of determining the
calendar number of the Scheduled Termination Date, having regard to any
Business Day Convention applicable to the CDS Transaction - see Section
3.3), falling one Fixed Payment Frequency period after the previous Fixed
Rate Payer Period End Date, starting on the First Regular Fixed Rate Payer
Payment Date and ending in accordance with Section 4.4.2;

(iv) unless Month End Rolls is selected in which case the Fixed Rate Payer
Period End Dates shall be the last calendar day of each month falling one
Fixed Payment Frequency period after the previous Fixed Rate Payer Period
End Date, starting the month of the First Regular Fixed Rate Payer Payment
Date and ending in accordance with Section 4.4.2.

IF THE STUB PERIOD IS AT END OF THE CDS TRANSACTION

To ascertain the Stub Period when it is Short:

The Stub Period will be short when the system determines that a Stub Period is
applicable (indicated by the Fixed Payment Stub Indicator on the Main Template
page (Section 3.1) displaying a value of Ticked) and the value in the Stub Type
field (see Fixed Payments Template page (Section 3.3)) is Short. In this case:

Add multiples of the Fixed Payment Frequency period to the Effective Date until
adding one more Fixed Payment Frequency period would result in a date later
than the End Date and this will identify the start date of the Stub Period (the Last
Regular Fixed Rate Payer Payment Date). The start date of the Stub Period is
displayed in the Last Regular Payment Date field on the Fixed Payments
Template page (Section 3.3).

If the Stub Period is at the End of a CDS Transaction and the Stub Period is
Short, the Fixed Rate Payer Period End Dates shall be:

(vii) the dates (bearing the same calendar number (the Roll Day) as the
Effective Date without, for the purpose of determining the calendar number
of the Effective Date, having regard to any Business Day Convention
applicable to the CDS Transaction - see Section 3.3), falling one Fixed
Payment Frequency period after the previous Fixed Rate Payer Period
End Date, starting on the date falling one Fixed Payment Frequency

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Annex 4
period after the Effective Date and ending on the Last Regular Fixed Rate
Payer Payment Date;

(viii) unless Month End Rolls is selected in which case the Fixed Rate Payer
Period End Dates shall be the last calendar day of each month falling one
Fixed Payment Frequency period after the previous Fixed Rate Payer
Period End Date, starting the month of the date falling one Fixed Payment
Frequency period after the Effective Date and ending on the Last Regular
Fixed Rate Payer Payment Date;

(ix) and (whether or not Month End Rolls is selected), the Scheduled
Termination Date;

unless an Event Determination Date occurs in which case the last Fixed Rate
Payer Period End Date shall be such Event Determination Date.

To ascertain the Stub Period when it is Long:

The Stub Period will be long when the system determines that a Stub Period is
applicable (indicated by the Fixed Payment Stub Indicator on the Main Template
page (Section 3.1) displaying a value of Ticked) and the value in the Stub Type
field (see Fixed Payments Template page (Section 3.3)) is Long. In this case:

Add multiples of the Fixed Payment Frequency to the Effective Date until adding
one more Fixed Payment Frequency period would result in a date later than the
End Date and then subtract one Fixed Payment Frequency period to ascertain
the start date of the Stub Period (the Last Regular Fixed Rate Payer Payment
Date). The start date of the Stub Period is displayed in the Last Regular
Payment Date field on the Fixed Payments Template page (Section 3.3).

If the Stub Period is at the End of a CDS Transaction and the Stub Period is
Long, the Fixed Rate Payer Period End Dates shall be:

(x) the dates (bearing the same calendar number (the Roll Day) as the
Effective Date without, for the purpose of determining the calendar number
of the Effective Date, having regard to any Business Day Convention
applicable to the CDS Transaction - see Section 3.3), falling one Fixed
Payment Frequency period after the previous Fixed Rate Payer Period
End Date, starting on the date falling one Fixed Payment Frequency
period after the Effective Date and ending on the Last Regular Fixed Rate
Payer Payment Date;

(xi) unless Month End Rolls is selected in which case the Fixed Rate Payer
Period End Dates shall be the last calendar day of each month falling one
Fixed Payment Frequency period after the previous Fixed Rate Payer
Period End Date, starting the month of the date falling one Fixed Payment
Frequency period after the Effective Date and ending on the Last Regular
Fixed Rate Payer Payment Date;

(xii) and (whether or not Month End Rolls is selected), the Scheduled
Termination Date;

unless an Event Determination Date occurs in which case the last Fixed Rate
Payer Period End Date shall be such Event Determination Date.

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Annex 4
If, as a result of the application of provisions set out in this Annex, the Fixed Rate
Payer Period End Date which is calculated does not exist (i.e. the Roll Day is
expressed to have a greater numerical value than that of the last day of the
relevant calendar month), that Fixed Rate Payer Period End Date shall be
deemed to be the last calendar day of the month in question.

All Fixed Rate Payer Payment Dates shall be adjusted in accordance with the
Business Centres and Business Day Conventions applicable to the CDS
Transaction (see Section 3.2).

4.7 Cancellations
Parties can agree to cancel a Transaction entered into MarkitWire as set out in the
Cancellation Fee Template page (MarkitWire Provisions Section 5.2).

For the purposes of MarkitWire the date on which the parties agree to end their
obligations under the Transaction is the Cancellation Effective Date and is
specified in the Cancellation Effective field on the Cancellation Template page
(MarkitWire Provisions Section 5.2). Any Cancellation Fee due in respect of such
cancellation will be paid on the Date as stated on the Cancellation Fee Template
page (MarkitWire Provisions Section 5.2). If the parties select Manual Confirmation
as applying to the cancellation of a Transaction, the parties agree that a manual
Confirmation needs to be created and executed in respect of the cancellation.

Unless the parties agree otherwise, for example in the case of a novation, the
cancelled Transaction shall be terminated and cancelled with effect from and
including the Cancellation Effective Date and all rights, duties, claims and obligations
of the parties there under shall be released and discharged with effect from and
including the Cancellation Effective Date without prejudice to any rights, duties,
claims and obligations which arose prior to and on the Cancellation Effective Date.
The parties shall still be liable to make any payments that are due and payable under
the Transaction on the relevant Cancellation Effective Date. In addition, the date
and method of payments due, where applicable, between the Cancellation Effective
Date and the Date that the Cancellation Fee is due to be paid on shall be subject to
negotiation between the parties. The parties shall also be liable for any Cancellation
Fee that is due and payable on such Date.

4.8 Amendments
Parties can agree to amend a Transaction entered into MarkitWire. The date on
which they agree to amend their rights and obligations on the Transaction is the
Amendment Effective Date which is specified in the Amendment Effective field on
the Additional Template page (MarkitWire Provisions Section 5.1). Any additional
payments due in respect of such amendment shall be made on the Date relevant to
that additional payment stated on the Additional Payment Template page
(MarkitWire Provisions Section 5.1).

The amended Transaction shall be amended with effect from and including the
Amendment Effective Date and all rights, duties, claims and obligations of the parties
thereunder shall be amended with effect from and including the Amendment
Effective Date without prejudice to any rights, duties, claims and obligations, which
arose prior to and on the Amendment Effective Date.

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Annex 4
The parties will still be liable to make any payments that are due and payable under
the Transaction up to and including the relevant Amendment Effective Date pursuant
to the terms of the Transaction prior to the amendment. The parties shall also be
liable to make any payments under the Transaction that are due and payable after
the relevant Amendment Effective Date pursuant to the terms of the amended
Transaction and liable for any additional payment that is due and payable as a result
of the amendment.

4.8.1 Legal Entity Amendments


During the amendment process parties will be able, subject to bilateral
agreement, to amend both their own legal entity and the legal entity of the other
party to the Transaction, in the event that one or other of the legal entities had
been incorrectly selected. In each case the list of available legal entities will be
restricted to the relevant legal entities for that User. Unless explicitly agreed
otherwise between the parties, legal entity changes for the purposes of
MarkitWire will be regarded as amendments, not novations or assignments.
Following any such amendment, the original details of the Transaction will be
superseded and replaced in all respects by the revised Transaction details.

4.9 Exits

Parties can agree to indicate in the MarkitWire system their intention to terminate or
modify the terms of a Transaction outside of the MarkitWire system. This intention is
identified through the use of the Contract State (See Section 3.1 Main Contract
State) of Exit. The indication of any such mutual intent will be recorded on the
MarkitWire system but by itself such indication will have no effect on the legal status
of the Trade Affirmation.

4.10 Introducing Broker Relationship


Within the MarkitWire system, it is possible to capture and reflect an introducing
broker relationship between the legal entities within a bank.

Each party is able to insert their own wording to reflect the legal entity that is bound
to the Transaction and the legal entity that is acting as introducing broker. Where an
introducing broker relationship has been defined within the system, that party to the
Transaction is represented in accordance with the wording entered by the relevant
party. For example:

Legal Entity A (introduced by Legal Entity B acting as agent).

In this case, Legal Entity A is the legal entity that is bound to the Transaction and
Legal Entity B is the legal entity that is acting as introducing broker. In this regard
Legal Entity A has authorized Legal Entity B, inter alia, to negotiate and enter into
Transactions on its behalf, and additionally to issue and receive, on its behalf,
affirmations in respect of such Transactions.

Additionally, Legal Entity A understands, acknowledges and agrees that such


Transactions shall be entered into in the name of Legal Entity A and for its account

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Annex 4
and risk, to the same extent and with the same force and effect as if Legal Entity A
had entered into such Transactions directly.

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Annex 4
4.11 Acronyms
This Section defines certain terms and abbreviations used in MarkitWire (and the
relevant Template pages). These terms shall have the meanings set out in the 2003
ISDA Credit Derivatives Definitions or other MarkitWire documentation as specified
below.

MARKITWIRE MEANING DEFINED OR


CODE DESCRIBED IN
MODF Modified Following Business Day 2003 ISDA Credit
Convention Derivatives Definitions
FOLL Following Business Day Convention 2003 ISDA Credit
Derivatives Definitions
PREC Preceding Business Day Convention 2003 ISDA Credit
Derivatives Definitions
Start Date Effective Date 2003 ISDA Credit
Derivatives Definitions
End Date Scheduled Termination Date 2003 ISDA Credit
Derivatives Definitions
ACT/360 Actual/360 2003 ISDA Credit
Derivatives Definitions
ACT/365.FIXED Actual/365 (Fixed) 2003 ISDA Credit
Derivatives Definitions
ACT/365.ISDA Actual/365 2003 ISDA Credit
Derivatives Definitions
JOINT Both parties to a Transaction MarkitWire Provisions
MY ENTITY The party of the User viewing this term MarkitWire Provisions
OTHER ENTITY The MarkitWire Participant viewing this MarkitWire Provisions
term
1d 1 Calendar Day MarkitWire Provisions
1w 1 Calendar Week MarkitWire Provisions
2w 2 Calendar Weeks MarkitWire Provisions
3w 3 Calendar Weeks MarkitWire Provisions
1m 1 Calendar Month MarkitWire Provisions
2m 2 Calendar Months MarkitWire Provisions
3m 3 Calendar Months MarkitWire Provisions
6m 6 Calendar Months MarkitWire Provisions
1y 1 Calendar Year MarkitWire Provisions
Ny An integer N followed by y will mean MarkitWire Provisions
an appropriate number of calendar
years indicated by that number.

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Annex 4
SCHEDULE 1: General Default Values
In respect of certain Screen Terms for CDS Transactions the default values are independent of the selection of either the
Contractual Definitions selected to apply to the CDS Transaction or the geographical region or entity type applicable to the
Reference Entity of the CDS Transaction. It is the responsibility of the User to ensure that the values contained within each field on
each Template page are consistent with the authorised employees intentions with respect to the CDS transaction. This schedule
sets out these default values for information purposes only.

Template Page Screen Term Default Value


Main Template Calculated (based on selections in Compose New Deal Screen (Section 4))
Main Contractual Definitions Calculated (based on selections in Compose New Deal Screen (Section 4))
Main Contract State Calculated (based on position of CDS Transaction within MarkitWire Trade
Lifecycle)
Main Trade Date Calculated
Main Broker Calculated (based on method of submission of deal to system)
Main Book Calculated (based on default values set up for authorised employee)
Main Tenor Calculated (based on selections in Compose New Deal Screen (Section 4))
Main Start Date Calculated
Main End Date Calculated
Main Counterparty Entity Calculated (based on default values set up for authorised employee)
Main Counterparty Buy/Sell Direction Buy
Main My Entity Calculated (based on default values set up for authorised employee)
Main My Entity Buy/Sell Direction Sell
Main Reference Entity Name Calculated (based on selections in Compose New Deal Screen (Section 4))
Main Reference Entity Role Calculated (based on selections in Compose New Deal Screen (Section 4))
Main Reference Entity/Reference Calculated (based on selections in Compose New Deal Screen (Section 4))
Obligation Source
Main Reference Obligation Maturity Calculated (based on selections in Compose New Deal Screen (Section 4))
Date

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Annex 4
Template Page Screen Term Default Value
Main Reference Obligation Coupon Calculated (based on selections in Compose New Deal Screen (Section 4))
Rate
Main Reference Obligation Identifier Calculated (based on selections in Compose New Deal Screen (Section 4))
Type
Main Reference Obligation Identifier Calculated (based on selections in Compose New Deal Screen (Section 4))
Value
Main Calculation Amount Blank
Main My Entity Buy/Sell Direction Sell
Main Fixed Rate Blank
Main Upfront Fee Indicator Un-Ticked
Main Non Standard Defaults Indicator Un-Ticked
Main Fixed Payments Stub Indicator Calculated
Main Roll Day Calculated
Main First Fixed Payment Date Calculated
Main Reference Obligation Primary Calculated (based on selections in Compose New Deal Screen (Section 4))
Obligor
General Terms Master Agreement Type ISDA
General Terms Calculation Agent Seller
General Terms Reference Price 100%
Fixed Payments Rolls Type Standard
Fixed Payments Start Date Calculated
Fixed Payments End Date Calculated
Fixed Payments Stub At Start
Fixed Payments Stub Type Calculated (based on selections in deal Template as defined in the Stub Type field
on the Fixed Payments Template page (Section 4.4))
Fixed Payments Roll Day Calculated
Fixed Payments Month End Rolls Un-Ticked

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Annex 4
Template Page Screen Term Default Value
Fixed Payments First Fixed Payment Date Calculated
Fixed Payments Last Regular Payment Date Calculated
Fixed Payments Upfront Fee Indicator Un-Ticked
Fixed Payments Upfront Fee Payment Date Blank
Fixed Payments Upfront Fee Direction Blank
Fixed Payments Upfront Fee Amount Blank
Conditions to Credit Event Notice Indicator Ticked
Settlement
Conditions to Credit Event Notifying Party Buyer or Seller
Settlement
Conditions to Notice of Intended Physical Ticked
Settlement Settlement Indicator
Conditions to Notice of Publicly Available Ticked
Settlement Information Indicator
Conditions to Additional Public Sources Blank
Settlement
Conditions to Specified Number 2
Settlement
Settlement Terms Settlement Method Physical
Settlement Terms Include Accrued Interest Un-Ticked
Indicator
Settlement Terms Escrow Indicator Ticked
Settlement Terms (Partial Cash Settlement) Un-Ticked
Consent Required Loans
Indicator
Settlement Terms (Partial Cash Settlement) Un-Ticked
Assignable Loans Indicator
Settlement Terms (Partial Cash Settlement) Un-Ticked
Participations Indicator
RE/RO Comparison (Proposed) Reference Entity Calculated
Name (for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

93

Annex 4
Template Page Screen Term Default Value

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Proposed) RED Entity Identifier Calculated
(for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Proposed) RED Pair Identifier Calculated
(for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Proposed) Reference Entity Calculated
Role (for the User that originates the New Deal, based on selections in Compose New
Deal Screen (Section 4); and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Proposed) Reference Obligation Calculated
Identifier Type (for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Proposed) Reference Obligation Calculated
Identifier Value (for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)

94

Annex 4
Template Page Screen Term Default Value
RE/RO Comparison (Proposed) Reference Obligation Calculated
Maturity Date (for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Proposed) Reference Calculated
Entity/Reference Obligation (for the User that originates the New Deal, based on selections in Compose New
Source Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Proposed) Reference Obligation Calculated
Coupon Rate (for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Proposed) Reference Obligation Calculated
Primary Obligor (for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison Agree to Primary Mismatch Un-Ticked
RE/RO Comparison Agree to Secondary Mismatch Un-Ticked
RE/RO Comparison (Internal) Reference Entity Name Calculated
(for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)

95

Annex 4
Template Page Screen Term Default Value
RE/RO Comparison (Internal) RED Entity Identifier Calculated
(for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Internal) RED Pair Identifier Calculated
(for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Internal) Reference Entity Calculated
Identifier (for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Internal) RE/RO Pair Identifier Calculated
(for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Internal) Reference Entity Role Calculated
(for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Internal) Reference Obligation Calculated
Identifier Type (for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

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Annex 4
Template Page Screen Term Default Value
for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Internal) Reference Obligation Calculated
Identifier Value (for the User that originates the New Deal, based on selections in Compose New
Deal Screen and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Internal) Reference Obligation Calculated
Maturity Date (for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Internal) Reference Calculated
Entity/Reference Obligation (for the User that originates the New Deal, based on selections in Compose New
Source Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Internal) Reference Obligation Calculated
Coupon Rate (for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)
RE/RO Comparison (Internal) Reference Obligation Calculated
Primary Obligor (for the User that originates the New Deal, based on selections in Compose New
Deal Screen; and

for the recipient of a New Deal originated by the counterparty, based on automatic
lookup from an approved data source or manual override by the authorised
employee)

97

Annex 4
Template Page Screen Term Default Value
Processing Exclude from Clearing Un-Ticked
Processing Manual Confirm Un-Ticked
Processing Non Std Settlement Inst Un-Ticked
Processing Exit Reason Blank
Addl Payment 1/2 Additional Payment 1 Required Un-Ticked
Addl Payment 1/2 Date Calculated (based on 3 business days following the date on which the new deal or
amendment request is entered in MarkitWire by one or other of the parties)
Addl Payment 1/2 Amendment Effective Calculated (based on the calendar day following the date that the amendment
request is entered in MarkitWire by one or other of the parties)
Addl Payment 1/2 Rec / Pay 1 Blank
Addl Payment 1/2 Amount Blank
Addl Payment 1/2 Reason Blank
Addl Payment 1/2 Additional Payment 2 Required Un-Ticked
Addl Payment 1/2 Date Calculated (based on 3 business days following the date on which the new deal or
amendment request is entered in MarkitWire by one or other of the parties)
Addl Payment 1/2 Rec / Pay 2 Blank
Addl Payment 1/2 Amount Blank
Addl Payment 1/2 Reason Blank
Cancellation Fee Cancellation Effective Calculated
Cancellation Fee Cancellation Fee Required Un-Ticked
Cancellation Fee Date Calculated (based on 3 business days following the date on which the cancellation
request is entered in MarkitWire by one or other of the parties)
Cancellation Fee Rec / Pay Blank
Cancellation Fee Amount Blank
Cancellation Fee Reason Cancellation
Cancellation Fee Convention FOLL
Internal Data Trade ID Calculated

98

Annex 4
Template Page Screen Term Default Value
Internal Data Internal Trade ID Blank
Internal Data Product Type CDS
Internal Data Sales Credit Blank
Internal Data Brokerage Currency Calculated (based on method of submission of deal to system)
Internal Data Brokerage Calculated (based on method of submission of deal to system)
Internal Data Book Calculated (based on default values set up for authorised employee)
Internal Data Broker Calculated (based on method of submission of deal to system)
Internal Data Broker ID Calculated (based on method of submission of deal to system)
Internal Data Trade Source Calculated (based on method of submission of deal to system)
Internal Data Broker Trader Calculated (based on method of submission of deal to system)
Internal Data Additional Field 1 Blank
Internal Data Additional Field 2 Blank
Internal Data Additional Field 3 Blank
Internal Data Additional Field 4 Blank
Internal Data Additional Field 5 Blank

99

Annex 4
SCHEDULE 2: Regional and Currency Default Values
6.1 Currency Default Values
In respect of certain Screen Terms for CDS Transactions the default values are dependent on the Currency selected to apply to the
CDS Transaction. It is the responsibility of the User to ensure that the values contained within each field on each Template page
are consistent with the authorised employees intentions with respect to the CDS transaction. The Transaction Currency determines
the population of the default values for the Screen Terms on each Template page as set out, for information purposes only, in the
following table unless an explicit regional default is defined in Section 8.2 which would otherwise take precedence:

Transaction Currency
USD EUR GBP JPY CHF
Template Page Screen Term
Main Currency USD EUR GBP JPY CHF
Fixed Payments Upfront Fee Currency USD EUR GBP JPY CHF
Settlement Terms Settlement Currency USD EUR GBP JPY CHF
Addl Payment 1/2 Addl Payment 1 Ccy USD EUR GBP JPY CHF
Addl Payment 1/2 Addl Payment 2 Ccy USD EUR GBP JPY CHF
Cancellation Fee Cancellation Fee Ccy USD EUR GBP JPY CHF
General Terms Business Days USNY, GBLO GBLO, EUTA GBLO GBLO, JPTO GBLO, CHZU
Addl Payment 1/2 Addl Payment 1 Holidays USNY, GBLO GBLO, EUTA GBLO GBLO, JPTO GBLO, CHZU
Addl Payment 1/2 Addl Payment 2 Holidays USNY, GBLO GBLO, EUTA GBLO GBLO, JPTO GBLO, CHZU
Cancellation Fee Cancellation Fee Holidays USNY, GBLO GBLO, EUTA GBLO GBLO, JPTO GBLO, CHZU
Credit Events Payment Requirement Currency USD USD USD JPY USD
Credit Events Payment Requirement Amount 1M 1M 1M 100M 1M
Credit Events Default Requirement Currency USD USD USD JPY USD
Credit Events Default Requirement Amount 10M 10M 10M 1000M 10M

100

Annex 4
6.2 Regional Default Values
In respect of certain Screen Terms for CDS Transactions the default values are dependent on the selection of either the
Contractual Definitions selected to apply to the CDS Transaction or the geographical region or entity type applicable to the
Reference Entity of the CDS Transaction.

Having selected a Reference Entity (RE) (without a Reference Obligation (RO)) or Reference Entity/Reference Obligation
(RE/RO) pair, the Currency and Docs fields on the Compose New Deal screen are defaulted based on this selection. Specifically,
the Currency and Docs fields are populated based on the Region of the Reference Entity. The Defs field will default to 2003 ISDA
Credit.

The Tenor field is defaulted to the value 5Y. This value can be changed by the authorised employee making a selection from a
drop down list of choices.

Note that the values for Currency, Docs and Defs on the Compose New Deal screen can be overwritten by the authorised
employee. Typically:

The Defs field will default to 2003 ISDA Credit however the authorised employee can select 1999 ISDA Credit if required;
The Docs field will default to a value determined from the combined values of the Reference Entity Type and Region
associated with the Reference Entity within the approved data source from which the Reference Entity was derived. The
authorised employee is able to select an alternative value should this be appropriate to the CDS Transaction; and
The Currency field will default to a value determined by the Reference Entity Type and the Reference Entity Region associated
with the Reference Entity within the approved data source from which the Reference Entity was derived. The authorised
employee is able to select an alternative value should this be appropriate to the CDS Transaction.
The values for Currency, Docs and Defs on the Compose New Deal screen determine the population of the default values for the
Screen Terms on each Template page as set out in this Schedule.

Where the authorised employee elects to change the value of any of the Currency, Docs and Defs fields on the Compose New Deal
screen, MarkitWire will not prevent such action nor in any way validate whether such action is appropriate. It is the responsibility of
the User to ensure that the values contained within each field on each Template page are consistent with the authorised
employees intentions with respect to the relevant CDS transaction.

This schedule sets out these default values for information purposes only.

101

Annex 4
6.2.1 Defaults for CDS Transactions documented under the 2003 ISDA Credit Derivatives Definitions

Europe and Americas


US US European European European Emerging Emerging Markets Emerging Emerging
Corporate Monoline Corporate Insurer Sub Debt Sovereign Markets Latin America Markets Markets
2003 ISDA Insurer 2003 ISDA 2003 ISDA 2003 ISDA Latin America Sovereign European European
Credit 2003 ISDA Credit Credit (Europe Credit Corporate 2003 ISDA Credit Corporate Sovereign
(US Corp) Credit (Europe Corp) Insurer Sub (Europe Sov) 2003 ISDA (EM Latin America 2003 ISDA 2003 ISDA Credit
(US Mono) Debt) Credit Sov) Credit (EM Europe
Template (EM Latin (EM Europe Sov)
Page Screen Term America Corp Corp)
Main Restructuring ModR Not Applicable ModModR Full Full Full Full ModModR Full
Main Fixed 3m 3m 3m 3m 3m 6m 6m 6m 6m
Payment
Frequency
General Contractual 2003 ISDA 2003 ISDA 2003 ISDA 2003 ISDA 2003 ISDA 2003 ISDA 2003 ISDA Credit 2003 ISDA 2003 ISDA Credit
Terms Definitions Credit Credit Credit Credit Credit Credit Credit
General May 2003 Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Terms Contractual
Supplement
General Monoline Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Terms Insurer (May
2003)
Contractual
Supplement
General Monoline Un-Ticked Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Terms Insurer (Jan
2005)
Contractual
Supplement
General Calculation New York New York London London London New York New York London London
Terms Agent City
General Business Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1
Terms Days Currency Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default
Default Values Values apply Values apply Values apply Values apply Values apply Values apply Values apply Values apply
apply
General Business Day FOLL FOLL FOLL FOLL FOLL FOLL FOLL FOLL FOLL
Terms Convention
General All Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Terms Guarantees
Fixed Fixed 3m 3m 3m 3m 3m 6m 6m 6m 6m
Payments Payment
Frequency

102

Annex 4
US US European European European Emerging Emerging Markets Emerging Emerging
Corporate Monoline Corporate Insurer Sub Debt Sovereign Markets Latin America Markets Markets
2003 ISDA Insurer 2003 ISDA 2003 ISDA 2003 ISDA Latin America Sovereign European European
Credit 2003 ISDA Credit Credit (Europe Credit Corporate 2003 ISDA Credit Corporate Sovereign
(US Corp) Credit (Europe Corp) Insurer Sub (Europe Sov) 2003 ISDA (EM Latin America 2003 ISDA 2003 ISDA Credit
(US Mono) Debt) Credit Sov) Credit (EM Europe
Template (EM Latin (EM Europe Sov)
Page Screen Term America Corp Corp)
Fixed Day Count ACT/360 ACT/360 ACT7360 ACT/360 ACT/360 ACT/360 ACT/360 ACT/360 ACT/360
Payments Fraction
Conditions Credit Event Standard Standard Standard Standard Standard Standard Standard Standard Standard
to Occurrence
Settlement Timezone
Credit Bankruptcy Ticked Ticked Ticked Ticked Un-Ticked Ticked Un-Ticked Ticked Un-Ticked
Events Indicator
Credit Failure to Pay Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Events Indicator
Credit Grace Period Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Un-Ticked Ticked
Events Extension
Indicator
Credit Grace Period Blank Blank Blank Blank Blank Blank Blank Blank Blank
Events Days
Credit Grace Period Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar Calendar
Events Extension Day
Type
Credit Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Events Default
Indicator
Credit Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Events Acceleration
Indicator
Credit Repudiation/M Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked Ticked
Events oratorium
Indicator
Credit Restructuring ModR Not Applicable ModModR Full Full Full Full ModModR Full
Events
Credit Multiple Ticked Un-Ticked Ticked Ticked Ticked Un-Ticked Un-Ticked Ticked Un-Ticked
Events Holder
Obligation
Indicator
Credit Multiple Credit Ticked Un-Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Events Event Notices
Indicator
Obligation Obligation Borrowed Borrowed Money Borrowed Money Borrowed Money Borrowed Money Bond Bond Bond Bond
Category Money

103

Annex 4
US US European European European Emerging Emerging Markets Emerging Emerging
Corporate Monoline Corporate Insurer Sub Debt Sovereign Markets Latin America Markets Markets
2003 ISDA Insurer 2003 ISDA 2003 ISDA 2003 ISDA Latin America Sovereign European European
Credit 2003 ISDA Credit Credit (Europe Credit Corporate 2003 ISDA Credit Corporate Sovereign
(US Corp) Credit (Europe Corp) Insurer Sub (Europe Sov) 2003 ISDA (EM Latin America 2003 ISDA 2003 ISDA Credit
(US Mono) Debt) Credit Sov) Credit (EM Europe
Template (EM Latin (EM Europe Sov)
Page Screen Term America Corp Corp)
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Characteristic
s) Not
Subordinated
(Pari Passu
Ranking)
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristic
s) Specified
Currency
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristic
s) Standard
specified
Currencies
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristic
s) Other
Specified
Currency
Indicator
Obligation (Obligation Blank Blank Blank Blank Blank Blank Blank Blank Blank
Characteristic
s) Other
Specified
Currencies
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristic
s) Not
Sovereign
Lender
Indicator

104

Annex 4
US US European European European Emerging Emerging Markets Emerging Emerging
Corporate Monoline Corporate Insurer Sub Debt Sovereign Markets Latin America Markets Markets
2003 ISDA Insurer 2003 ISDA 2003 ISDA 2003 ISDA Latin America Sovereign European European
Credit 2003 ISDA Credit Credit (Europe Credit Corporate 2003 ISDA Credit Corporate Sovereign
(US Corp) Credit (Europe Corp) Insurer Sub (Europe Sov) 2003 ISDA (EM Latin America 2003 ISDA 2003 ISDA Credit
(US Mono) Debt) Credit Sov) Credit (EM Europe
Template (EM Latin (EM Europe Sov)
Page Screen Term America Corp Corp)
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Characteristic
s) Not
Domestic
Currency
Indicator
Obligation (Obligation Blank Blank Blank Blank Blank Blank Blank Blank Blank
Characteristic
s) Domestic
Currency
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Characteristic
s) Not
Domestic Law
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristic
s) Listed
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Characteristic
s) Not
Domestic
Issuance
Indicator
Settlement Physical Capped Capped Fixed Fixed Fixed Straight Straight Fixed Straight
Terms Settlement
Period Type
Settlement Physical 30 30 30 30 30 Blank Blank 30 Blank
Terms Settlement
Period Days
Settlement 60 Business Un-Ticked Un-Ticked Ticked Ticked Ticked Un-Ticked Un-Ticked Ticked Ticked
Terms Day Cap on
Settlement
Indicator
Deliverable Deliverable Bond or Loan Bond or Loan Bond or Loan Bond or Loan Bond or Loan Bond Bond Bond Bond
Obligation Obligation
Category

105

Annex 4
US US European European European Emerging Emerging Markets Emerging Emerging
Corporate Monoline Corporate Insurer Sub Debt Sovereign Markets Latin America Markets Markets
2003 ISDA Insurer 2003 ISDA 2003 ISDA 2003 ISDA Latin America Sovereign European European
Credit 2003 ISDA Credit Credit (Europe Credit Corporate 2003 ISDA Credit Corporate Sovereign
(US Corp) Credit (Europe Corp) Insurer Sub (Europe Sov) 2003 ISDA (EM Latin America 2003 ISDA 2003 ISDA Credit
(US Mono) Debt) Credit Sov) Credit (EM Europe
Template (EM Latin (EM Europe Sov)
Page Screen Term America Corp Corp)
Deliverable (Deliverable Ticked Ticked Ticked Ticked Un-Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristic
s) Not
Subordinated
(Pari Passu
Ranking)
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristic
s) Specified
Currency
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristic
s) Standard
Specified
Currencies
Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristic
s) Other
Specified
Currency
Indicator
Deliverable (Deliverable Blank Blank Blank Blank Blank Blank Blank Blank Blank
Obligation Obligation
Characteristic
s) Other
Specified
Currencies

106

Annex 4
US US European European European Emerging Emerging Markets Emerging Emerging
Corporate Monoline Corporate Insurer Sub Debt Sovereign Markets Latin America Markets Markets
2003 ISDA Insurer 2003 ISDA 2003 ISDA 2003 ISDA Latin America Sovereign European European
Credit 2003 ISDA Credit Credit (Europe Credit Corporate 2003 ISDA Credit Corporate Sovereign
(US Corp) Credit (Europe Corp) Insurer Sub (Europe Sov) 2003 ISDA (EM Latin America 2003 ISDA 2003 ISDA Credit
(US Mono) Debt) Credit Sov) Credit (EM Europe
Template (EM Latin (EM Europe Sov)
Page Screen Term America Corp Corp)
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristic
s) Not
Sovereign
Lender
Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristic
s) Not
Domestic
Currency
Indicator
Deliverable (Deliverable Blank Blank Blank Blank Blank Blank Blank Blank Blank
Obligation Obligation
Characteristic
s) Domestic
Currency
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristic
s) Not
Domestic Law
Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristic
s) Listed
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristic
s) Not
Contingent
Indicator

107

Annex 4
US US European European European Emerging Emerging Markets Emerging Emerging
Corporate Monoline Corporate Insurer Sub Debt Sovereign Markets Latin America Markets Markets
2003 ISDA Insurer 2003 ISDA 2003 ISDA 2003 ISDA Latin America Sovereign European European
Credit 2003 ISDA Credit Credit (Europe Credit Corporate 2003 ISDA Credit Corporate Sovereign
(US Corp) Credit (Europe Corp) Insurer Sub (Europe Sov) 2003 ISDA (EM Latin America 2003 ISDA 2003 ISDA Credit
(US Mono) Debt) Credit Sov) Credit (EM Europe
Template (EM Latin (EM Europe Sov)
Page Screen Term America Corp Corp)
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristic
s) Not
Domestic
Issuance
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristic
s) Assignable
Loan Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristic
s) Consent
Required
Loan Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristic
s) Direct Loan
Participation
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristic
s)
Transferable
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristic
s) Maximum
Maturity
Indicator

108

Annex 4
US US European European European Emerging Emerging Markets Emerging Emerging
Corporate Monoline Corporate Insurer Sub Debt Sovereign Markets Latin America Markets Markets
2003 ISDA Insurer 2003 ISDA 2003 ISDA 2003 ISDA Latin America Sovereign European European
Credit 2003 ISDA Credit Credit (Europe Credit Corporate 2003 ISDA Credit Corporate Sovereign
(US Corp) Credit (Europe Corp) Insurer Sub (Europe Sov) 2003 ISDA (EM Latin America 2003 ISDA 2003 ISDA Credit
(US Mono) Debt) Credit Sov) Credit (EM Europe
Template (EM Latin (EM Europe Sov)
Page Screen Term America Corp Corp)
Deliverable (Deliverable 30 30 30 30 30 Blank Blank Blank Blank
Obligation Obligation
Characteristic
s) Maximum
Maturity Years
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristic
s) Accelerated
or Matured
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristic
s) Not Bearer
Indicator
Addl Addl Payment Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1
Payment 1 Holidays Currency Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default
1/2 Default Values Values apply Values apply Values apply Values apply Values apply Values apply Values apply Values apply
apply
Addl Addl Payment FOLL FOLL FOLL FOLL FOLL FOLL FOLL FOLL FOLL
Payment 1 Holidays
1/2 Convention
Addl Addl Payment Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1
Payment 2 Holidays Currency Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default
1/2 Default Values Values apply Values apply Values apply Values apply Values apply Values apply Values apply Values apply
apply
Addl Addl Payment FOLL FOLL FOLL FOLL FOLL FOLL FOLL FOLL FOLL
Payment 2 Holidays
1/2 Convention
Cancellatio Cancellation Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Section 8.1
n Fee Fee Holidays Currency Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default Currency Default
Default Values Values apply Values apply Values apply Values apply Values apply Values apply Values apply Values apply
apply
Independe Independent Unticked Unticked Unticked Unticked Unticked Unticked Unticked Unticked Unticked
nt Amount Amount
Required

109

Annex 4
US US European European European Emerging Emerging Markets Emerging Emerging
Corporate Monoline Corporate Insurer Sub Debt Sovereign Markets Latin America Markets Markets
2003 ISDA Insurer 2003 ISDA 2003 ISDA 2003 ISDA Latin America Sovereign European European
Credit 2003 ISDA Credit Credit (Europe Credit Corporate 2003 ISDA Credit Corporate Sovereign
(US Corp) Credit (Europe Corp) Insurer Sub (Europe Sov) 2003 ISDA (EM Latin America 2003 ISDA 2003 ISDA Credit
(US Mono) Debt) Credit Sov) Credit (EM Europe
Template (EM Latin (EM Europe Sov)
Page Screen Term America Corp Corp)
Independe Delivery Date Unticked Unticked Unticked Unticked Unticked Unticked Unticked Unticked Unticked
nt Amount Required
Independe Pay/Rec Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated Calculated
nt Amount
Independe Independent Blank Blank Blank Blank Blank Blank Blank Blank Blank
nt Amount Amount %
Independe Currency Blank Blank Blank Blank Blank Blank Blank Blank Blank
nt Amount
Independe Independent Blank Blank Blank Blank Blank Blank Blank Blank Blank
nt Amount Amount
Independe Reason Independent Independent Independent Independent Independent Independent Independent Independent Independent
nt Amount Amount Amount Amount Amount Amount Amount Amount Amount Amount
Independe Delivery Date Blank Blank Blank Blank Blank Blank Blank Blank Blank
nt Amount
Independe Holidays Blank Blank Blank Blank Blank Blank Blank Blank Blank
nt Amount
Independe Convention MODF MODF MODF MODF MODF MODF MODF MODF MODF
nt Amount

Asia Pacific
Japan Corporate Japan Sovereign Asia Corporate Asia Sovereign Singapore Corporate Australia Corporate New Zealand Corporate
Template 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit
Page Screen Term (Japan Corp) (Japan Sov) (Asia Corp) (Asia Sov) (Singapore Corp) (Australia Corp) (New Zealand Corp)
Main Restructuring Full Full Full Full Full Full Full
Main Fixed Payment 3m 3m 3m 3m 3m 3m 3m
Frequency
General Contractual 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit
Terms Definitions
General May 2003 Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Terms Contractual
Supplement

110

Annex 4
Japan Corporate Japan Sovereign Asia Corporate Asia Sovereign Singapore Corporate Australia Corporate New Zealand Corporate
Template 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit
Page Screen Term (Japan Corp) (Japan Sov) (Asia Corp) (Asia Sov) (Singapore Corp) (Australia Corp) (New Zealand Corp)
General Monoline Insurer Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Terms (May 2003)
Contractual
Supplement
General Monoline Insurer (Jan Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Terms 2005) Contractual
Supplement
General Calculation Agent London London London London London London London
Terms City
General Business Days Transaction Transaction Transaction Transaction Transaction Transaction Transaction Currency =
Terms Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, CHF, GBP, JPY or USD
GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD = USNY, GBLO, NZAU
= USNY, GBLO, = USNY, GBLO, = USNY, GBLO = USNY, GBLO = USNY, GBLO, = USNY, GBLO, Transaction Currency =
JPTO JPTO Transaction Transaction SGSI AUSY EUR
Transaction Transaction Currency = EUR Currency = EUR Transaction Transaction = USNY, GBLO, NZAU,
Currency = EUR Currency = EUR = USNY, GBLO, = USNY, GBLO, Currency = EUR Currency = EUR EUTA
= USNY, GBLO, = USNY, GBLO, EUTA EUTA = USNY, GBLO, = USNY, GBLO,
JPTO, EUTA JPTO, EUTA SGSI, EUTA AUSY, EUTA
General Business Day FOLL FOLL FOLL FOLL FOLL FOLL FOLL
Terms Convention
General All Guarantees Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Terms
Fixed Fixed Payment 3m 3m 3m 3m 3m 3m 3m
Payments Frequency
Fixed Day Count Fraction ACT/360 ACT/360 ACT/360 ACT/360 ACT/360 ACT/360 ACT/360
Payments
Conditions to Credit Event Tokyo Tokyo Standard Standard Standard Standard Standard
Settlement Occurrence
Timezone
Credit Bankruptcy Indicator Ticked Un-Ticked Ticked Un-Ticked Ticked Ticked Ticked
Events
Credit Failure to Pay Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Events Indicator
Credit Grace Period Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Events Extension Indicator
Credit Grace Period Days Blank Blank Blank Blank Blank Blank Blank
Events
Credit Grace Period Calendar Calendar Calendar Calendar Calendar Calendar Calendar
Events Extension Day Type
Credit Obligation Default Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Events Indicator

111

Annex 4
Japan Corporate Japan Sovereign Asia Corporate Asia Sovereign Singapore Corporate Australia Corporate New Zealand Corporate
Template 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit
Page Screen Term (Japan Corp) (Japan Sov) (Asia Corp) (Asia Sov) (Singapore Corp) (Australia Corp) (New Zealand Corp)
Credit Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Events Acceleration Indicator
Credit Repudiation/Moratori Un-Ticked Ticked Un-Ticked Ticked Un-Ticked Un-Ticked Un-Ticked
Events um Indicator
Credit Restructuring Full Full Full Full Full Full Full
Events
Credit Multiple Holder Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked Ticked
Events Obligation Indicator
Credit Multiple Credit Event Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked Ticked
Events Notices Indicator
Obligation Obligation Category Borrowed Money Borrowed Money Bond or Loan Bond or Loan Bond or Loan Borrowed Money Borrowed Money
Obligation (Obligation Ticked Un-Ticked Ticked Ticked Ticked Un-Ticked Un-Ticked
Characteristics) Not
Subordinated (Pari
Passu Ranking)
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Un-Ticked Un-Ticked
Characteristics)
Specified Currency
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Un-Ticked Un-Ticked
Characteristics)
Standard specified
Currencies Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Un-Ticked Un-Ticked
Characteristics) Other
Specified Currency
Indicator
Obligation (Obligation Blank Blank Blank Blank SGD Blank Blank
Characteristics) Other
Specified Currencies
Obligation (Obligation Un-Ticked Un-Ticked Ticked Ticked Ticked Un-Ticked Un-Ticked
Characteristics) Not
Sovereign Lender
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Ticked Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristics) Not
Domestic Currency
Indicator
Obligation (Obligation Blank Blank Blank Blank Blank Blank Blank
Characteristics)
Domestic Currency

112

Annex 4
Japan Corporate Japan Sovereign Asia Corporate Asia Sovereign Singapore Corporate Australia Corporate New Zealand Corporate
Template 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit
Page Screen Term (Japan Corp) (Japan Sov) (Asia Corp) (Asia Sov) (Singapore Corp) (Australia Corp) (New Zealand Corp)
Obligation (Obligation Un-Ticked Un-Ticked Ticked Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristics) Not
Domestic Law
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristics)
Listed Indicator
Obligation (Obligation Un-Ticked Un-Ticked Ticked Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristics) Not
Domestic Issuance
Indicator
Settlement Physical Settlement Fixed Fixed Fixed Fixed Fixed Fixed Fixed
Terms Period Type
Settlement Physical Settlement 30 30 30 30 30 30 30
Terms Period Days
Settlement 60 Business Day Cap Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Terms on Settlement
Indicator
Deliverable Deliverable Bond or Loan Bond or Loan Bond or Loan Bond or Loan Bond or Loan Bond or Loan Bond or Loan
Obligation Obligation Category
Deliverable (Deliverable Ticked Un-Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics) Not
Subordinated (Pari
Passu Ranking)
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics)
Specified Currency
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics)
Standard Specified
Currencies Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics) Other
Specified Currency
Indicator

113

Annex 4
Japan Corporate Japan Sovereign Asia Corporate Asia Sovereign Singapore Corporate Australia Corporate New Zealand Corporate
Template 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit
Page Screen Term (Japan Corp) (Japan Sov) (Asia Corp) (Asia Sov) (Singapore Corp) (Australia Corp) (New Zealand Corp)
Deliverable (Deliverable Blank Blank Blank Blank SGD AUD NZD
Obligation Obligation
Characteristics) Other
Specified Currencies
Deliverable (Deliverable Un-Ticked Un-Ticked Ticked Ticked Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics) Not
Sovereign Lender
Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics) Not
Domestic Currency
Indicator
Deliverable (Deliverable Blank Blank Blank Blank Blank Blank Blank
Obligation Obligation
Characteristics)
Domestic Currency
Deliverable (Deliverable Un-Ticked Un-Ticked Ticked Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics) Not
Domestic Law
Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics)
Listed Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics) Not
Contingent Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Ticked Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics) Not
Domestic Issuance
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics)
Assignable Loan
Indicator

114

Annex 4
Japan Corporate Japan Sovereign Asia Corporate Asia Sovereign Singapore Corporate Australia Corporate New Zealand Corporate
Template 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit
Page Screen Term (Japan Corp) (Japan Sov) (Asia Corp) (Asia Sov) (Singapore Corp) (Australia Corp) (New Zealand Corp)
Deliverable (Deliverable Ticked Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Ticked
Obligation Obligation
Characteristics)
Consent Required
Loan Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics)
Direct Loan
Participation Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics)
Transferable Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics)
Maximum Maturity
Indicator
Deliverable (Deliverable 30 30 30 30 30 30 30
Obligation Obligation
Characteristics)
Maximum Maturity
Years
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics)
Accelerated or
Matured Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics) Not
Bearer Indicator
Addl Addl Payment 1 Transaction Transaction Transaction Transaction Transaction Transaction Transaction Currency =
Payment 1/2 Holidays Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, CHF, GBP, JPY or USD
GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD = USNY, GBLO, NZAU
= USNY, GBLO, = USNY, GBLO, = USNY, GBLO = USNY, GBLO = USNY, GBLO, = USNY, GBLO, Transaction Currency =
JPTO JPTO Transaction Transaction SGSI AUSY EUR
Transaction Transaction Currency = EUR Currency = EUR Transaction Transaction = USNY, GBLO, NZAU,
Currency = EUR Currency = EUR = USNY, GBLO, = USNY, GBLO, Currency = EUR Currency = EUR EUTA
= USNY, GBLO, = USNY, GBLO, EUTA EUTA = USNY, GBLO, = USNY, GBLO,
JPTO, EUTA JPTO, EUTA SGSI, EUTA AUSY, EUTA

115

Annex 4
Japan Corporate Japan Sovereign Asia Corporate Asia Sovereign Singapore Corporate Australia Corporate New Zealand Corporate
Template 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit 2003 ISDA Credit
Page Screen Term (Japan Corp) (Japan Sov) (Asia Corp) (Asia Sov) (Singapore Corp) (Australia Corp) (New Zealand Corp)
Addl Addl Payment 1 FOLL FOLL FOLL FOLL FOLL FOLL FOLL
Payment 1/2 Holidays Convention
Addl Addl Payment 2 Transaction Transaction Transaction Transaction Transaction Transaction Transaction Currency =
Payment 1/2 Holidays Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, CHF, GBP, JPY or USD
GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD = USNY, GBLO, NZAU
= USNY, GBLO, = USNY, GBLO, = USNY, GBLO = USNY, GBLO = USNY, GBLO, = USNY, GBLO, Transaction Currency =
JPTO JPTO Transaction Transaction SGSI AUSY EUR
Transaction Transaction Currency = EUR Currency = EUR Transaction Transaction = USNY, GBLO, NZAU,
Currency = EUR Currency = EUR = USNY, GBLO, = USNY, GBLO, Currency = EUR Currency = EUR EUTA
= USNY, GBLO, = USNY, GBLO, EUTA EUTA = USNY, GBLO, = USNY, GBLO,
JPTO, EUTA JPTO, EUTA SGSI, EUTA AUSY, EUTA
Addl Addl Payment 2 FOLL FOLL FOLL FOLL FOLL FOLL FOLL
Payment 1/2 Holidays Convention
Cancellation Cancellation Fee Transaction Transaction Transaction Transaction Transaction Transaction Transaction Currency =
Fee Holidays Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, Currency = CHF, CHF, GBP, JPY or USD
GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD GBP, JPY or USD = USNY, GBLO, NZAU
= USNY, GBLO, = USNY, GBLO, = USNY, GBLO = USNY, GBLO = USNY, GBLO, = USNY, GBLO, Transaction Currency =
JPTO JPTO Transaction Transaction SGSI AUSY EUR
Transaction Transaction Currency = EUR Currency = EUR Transaction Transaction = USNY, GBLO, NZAU,
Currency = EUR Currency = EUR = USNY, GBLO, = USNY, GBLO, Currency = EUR Currency = EUR EUTA
= USNY, GBLO, = USNY, GBLO, EUTA EUTA = USNY, GBLO, = USNY, GBLO,
JPTO, EUTA JPTO, EUTA SGSI, EUTA AUSY, EUTA
Independent Independent Amount Unticked Unticked Unticked Unticked Unticked Unticked Unticked
Amount Required
Independent Delivery Date Unticked Unticked Unticked Unticked Unticked Unticked Unticked
Amount Required
Independent Pay/Rec Calculated Calculated Calculated Calculated Calculated Calculated Calculated
Amount
Independent Independent Amount Blank Blank Blank Blank Blank Blank Blank
Amount %
Independent Currency Blank Blank Blank Blank Blank Blank Blank
Amount
Independent Independent Amount Blank Blank Blank Blank Blank Blank Blank
Amount
Independent Reason Independent Independent Independent Independent Independent Amount Independent Independent Amount
Amount Amount Amount Amount Amount Amount
Independent Delivery Date Blank Blank Blank Blank Blank Blank Blank
Amount
Independent Holidays Blank Blank Blank Blank Blank Blank Blank
Amount
Independent Convention MODF MODF MODF MODF MODF MODF MODF
Amount

116

Annex 4
6.2.2 Defaults for CDS Transactions documented under the 2003 ISDA Credit Derivatives Definitions
Template Page Screen Term US European European Emerging Markets Emerging Markets Emerging Markets Emerging Markets
Corporate Corporate Sovereign Latin America Latin America European European
1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit Corporate Sovereign Corporate Sovereign
(US Corp) (Europe Corp) (Europe Sov) 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit
(EM Latin America (EM Latin America (EM Europe (EM Europe Sov)
Corp) Sov) Corp)
Main Restructuring ModR Full Full Full Full Full Full
Main Fixed Payment 3m 3m 3m 6m 6m 6m 6m
Frequency
General Terms Contractual 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit
Definitions
General Terms Successor and Ticked Ticked Un-Ticked Un-Ticked Un-Ticked Ticked Un-Ticked
Credit Events (Nov
2001) Contractual
Supplement
General Terms Convertible, Ticked Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Exchangeable and
Accreting
Obligations (Nov
2001) Contractual
Supplement
General Terms Restructuring (May Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
2001) Contractual
Supplement
General Terms Calculation Agent New York London London New York New York London London
City
General Terms Business Days Section 8.1 Section 8.1 Section 8.1 Section 8.1 Currency Section 8.1 Section 8.1 Section 8.1
Currency Default Currency Default Currency Default Default Values apply Currency Default Currency Default Currency Default
Values apply Values apply Values apply Values apply Values apply Values apply
General Terms Business Day MODF MODF MODF MODF MODF MODF MODF
Convention
General Terms Adjust Scheduled Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Termination Date
Indicator
Fixed Fixed Payment 3m 3m 3m 6m 6m 6m 6m
Payments Frequency
Fixed Day Count Fraction ACT/360 ACT/360 ACT/360 ACT/360 ACT/360 ACT/360 ACT/360
Payments
Credit Events Bankruptcy Indicator Ticked Ticked Un-Ticked Ticked Un-Ticked Ticked Un-Ticked
Credit Events Failure to Pay Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Indicator
Credit Events Grace Period Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Un-Ticked Ticked
Extension Indicator

117

Annex 4
Template Page Screen Term US European European Emerging Markets Emerging Markets Emerging Markets Emerging Markets
Corporate Corporate Sovereign Latin America Latin America European European
1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit Corporate Sovereign Corporate Sovereign
(US Corp) (Europe Corp) (Europe Sov) 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit
(EM Latin America (EM Latin America (EM Europe (EM Europe Sov)
Corp) Sov) Corp)
Credit Events Grace Period Days Blank Blank Blank Blank Blank Blank Blank
Credit Events Grace Period Calendar Calendar Calendar Calendar Calendar Calendar Calendar
Extension Day Type
Credit Events Obligation Default Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Indicator
Credit Events Obligation Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked Ticked
Acceleration
Indicator
Credit Events Repudiation/Moratori Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked Ticked
um Indicator
Credit Events Restructuring ModR Full Full Full Full Full Full
Obligation Obligation Category Borrowed Money Borrowed Money Borrowed Money Bond Bond Bond Bond
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Characteristics) Not
Subordinated (Pari
Passu Ranking)
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristics)
Specified Currency
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristics)
Standard specified
Currencies Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristics)
Other Specified
Currency Indicator
Obligation (Obligation Blank Blank Blank Blank Blank Blank Blank
Characteristics)
Other Specified
Currencies
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristics) Not
Sovereign Lender
Indicator

118

Annex 4
Template Page Screen Term US European European Emerging Markets Emerging Markets Emerging Markets Emerging Markets
Corporate Corporate Sovereign Latin America Latin America European European
1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit Corporate Sovereign Corporate Sovereign
(US Corp) (Europe Corp) (Europe Sov) 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit
(EM Latin America (EM Latin America (EM Europe (EM Europe Sov)
Corp) Sov) Corp)
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Characteristics) Not
Domestic Currency
Indicator
Obligation (Obligation Blank Blank Blank Blank Blank Blank Blank
Characteristics)
Domestic Currency
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Characteristics) Not
Domestic Law
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristics)
Listed Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Characteristics) Not
Domestic Issuance
Indicator
Obligation (Obligation Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Characteristics) Not
Contingent Indicator
Settlement Physical Settlement Capped Fixed Fixed Straight Straight Straight Straight
Terms Period Type
Settlement Physical Settlement 30 30 30 Blank Blank Blank Blank
Terms Period Days
Deliverable Deliverable Bond or Loan Bond or Loan Bond or Loan Bond Bond Bond Bond
Obligation Obligation Category
Deliverable (Deliverable Ticked Ticked Un-Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics) Not
Subordinated (Pari
Passu Ranking)
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics)
Specified Currency
Indicator

119

Annex 4
Template Page Screen Term US European European Emerging Markets Emerging Markets Emerging Markets Emerging Markets
Corporate Corporate Sovereign Latin America Latin America European European
1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit Corporate Sovereign Corporate Sovereign
(US Corp) (Europe Corp) (Europe Sov) 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit
(EM Latin America (EM Latin America (EM Europe (EM Europe Sov)
Corp) Sov) Corp)
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics)
Standard Specified
Currencies Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics)
Other Specified
Currency Indicator
Deliverable (Deliverable Blank Blank Blank Blank Blank Blank Blank
Obligation Obligation
Characteristics)
Other Specified
Currencies
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics) Not
Sovereign Lender
Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics) Not
Domestic Currency
Indicator
Deliverable (Deliverable Blank Blank Blank Blank Blank Blank Blank
Obligation Obligation
Characteristics)
Domestic Currency
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics) Not
Domestic Law
Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics)
Listed Indicator

120

Annex 4
Template Page Screen Term US European European Emerging Markets Emerging Markets Emerging Markets Emerging Markets
Corporate Corporate Sovereign Latin America Latin America European European
1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit Corporate Sovereign Corporate Sovereign
(US Corp) (Europe Corp) (Europe Sov) 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit
(EM Latin America (EM Latin America (EM Europe (EM Europe Sov)
Corp) Sov) Corp)
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics) Not
Contingent Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics) Not
Domestic Issuance
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics)
Assignable Loan
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics)
Consent Required
Loan Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics)
Direct Loan
Participation
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics)
Transferable
Indicator
Deliverable (Deliverable Ticked Ticked Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics)
Maximum Maturity
Indicator
Deliverable (Deliverable 30 30 30 Blank Blank Blank Blank
Obligation Obligation
Characteristics)
Maximum Maturity
Years

121

Annex 4
Template Page Screen Term US European European Emerging Markets Emerging Markets Emerging Markets Emerging Markets
Corporate Corporate Sovereign Latin America Latin America European European
1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit Corporate Sovereign Corporate Sovereign
(US Corp) (Europe Corp) (Europe Sov) 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit
(EM Latin America (EM Latin America (EM Europe (EM Europe Sov)
Corp) Sov) Corp)
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics)
Accelerated or
Matured Indicator
Deliverable (Deliverable Ticked Ticked Ticked Ticked Ticked Ticked Ticked
Obligation Obligation
Characteristics) Not
Bearer Indicator
Deliverable (Deliverable Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked Un-Ticked
Obligation Obligation
Characteristics)
Indirect Loan
Participation
Indicator
Addl Payment Addl Payment 1 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Currency Section 8.1 Section 8.1 Section 8.1
1/2 Holidays Currency Default Currency Default Currency Default Default Values apply Currency Default Currency Default Currency Default
Values apply Values apply Values apply Values apply Values apply Values apply
Addl Payment Addl Payment 1 MODF MODF MODF MODF MODF MODF MODF
1/2 Holidays Convention
Addl Payment Addl Payment 2 Section 8.1 Section 8.1 Section 8.1 Section 8.1 Currency Section 8.1 Section 8.1 Section 8.1
1/2 Holidays Currency Default Currency Default Currency Default Default Values apply Currency Default Currency Default Currency Default
Values apply Values apply Values apply Values apply Values apply Values apply
Addl Payment Addl Payment 2 MODF MODF MODF MODF MODF MODF MODF
1/2 Holidays
Convention
Cancellation Cancellation Fee Section 8.1 Section 8.1 Section 8.1 Section 8.1 Currency Section 8.1 Section 8.1 Section 8.1
Fee Holidays Currency Default Currency Default Currency Default Default Values apply Currency Default Currency Default Currency Default
Values apply Values apply Values apply Values apply Values apply Values apply
Independent Independent Amount Unticked Unticked Unticked Unticked Unticked Unticked Unticked
Amount Required
Independent Delivery Date Unticked Unticked Unticked Unticked Unticked Unticked Unticked
Amount Required
Independent Pay/Rec Calculated Calculated Calculated Calculated Calculated Calculated Calculated
Amount
Independent Independent Amount Blank Blank Blank Blank Blank Blank Blank
Amount %
Independent Currency Blank Blank Blank Blank Blank Blank Blank
Amount

122

Annex 4
Template Page Screen Term US European European Emerging Markets Emerging Markets Emerging Markets Emerging Markets
Corporate Corporate Sovereign Latin America Latin America European European
1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit Corporate Sovereign Corporate Sovereign
(US Corp) (Europe Corp) (Europe Sov) 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit 1999 ISDA Credit
(EM Latin America (EM Latin America (EM Europe (EM Europe Sov)
Corp) Sov) Corp)
Independent Independent Amount Blank Blank Blank Blank Blank Blank Blank
Amount
Independent Reason Independent Independent Independent Independent Amount Independent Independent Independent
Amount Amount Amount Amount Amount Amount Amount
Independent Delivery Date Blank Blank Blank Blank Blank Blank Blank
Amount
Independent Holidays Blank Blank Blank Blank Blank Blank Blank
Amount
Independent Convention MODF MODF MODF MODF MODF MODF MODF
Amount

123

Annex 4