The International Swaps and Derivatives Association, Inc. (ISDA) has published its March 2013 EMIR Non-Financial Counterparty (NFC) Representation Protocol and a Timely Confirmation Amendment Agreement. The ISDA March 2013 EMIR NFC Representation Protocol is designed to allow swap market participants to simultaneously amend multiple ISDA Master Agreements for the purpose of facilitating compliance with certain Know Your Counterparty requirements of Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR) and the regulatory technical standards made under it. The documents are accompanied by a list of adhering parties to the protocol, FAQs on the protocol, Explanatory Memorandum for the timely confirmation wording.
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