It should be noted, however, that the applicable regulatory requirements do not require that the parties concerned comply with a particular DF protocol. On the contrary, DF protocols are mechanisms put in place by ISDA to help affected parties comply with the rules; compliance can also be achieved through the implementation of bilateral amendment agreements that meet regulatory requirements. Some SDs and MSPs have implemented such agreements and distributed them to the relevant counterparties. Unlike previous ISDA protocols, in which changes or additions were made exclusively by each party`s supplementary letter to the underlying document to be amended (i.e. a captain`s agreement), this protocol contains additional bilateral delivery requirements for the addition of additional conditions (for more information on delivery requirements, see item 5.Q below). In addition, any party who files a loyalty letter must send a completed questionnaire to another participant in the protocol for the addition of additional conditions in order to be effective with that participant in the protocol. As a result of these additional bilateral delivery requirements, ISDA has developed a technology-based solution (ISDA Amend) with Markit to automate the information collection process and provide sharing of data and documents forwarded to authorized counterparties (for more information, see item 6.Q below). ISDA Amend is available www.markit.com/en/products/distribution/document-exchange/registration.page. (b) the parties may not yet have entered into an ISDA master agreement or other written agreement, but they wish to begin proposing or dematerializing swaps, including swaps to be documented on “long-form confirmations.” The basic architecture of the DF 2.0 protocol is similar to the DF protocol.

It consists of four documents: (1) the letter of compliance, (2) the protocol agreement, (3) the appeal form on the minutes and (4) the DF supplement. The physical provisions of the DF 2.0 protocol are contained in the DF supplement, which consists of the following four calendars: First, an end user wishing to comply with the DF protocol will transmit a single character (a letter adherence letter) to ISDA via an online form. ISDA publishes the letter so that it can be consulted by all other participants in the DF protocol (a “protocol participant”). The letter contains the end user`s consent to the DF protocol and the delivery instructions in which consistent information may be communicated to him by his swap counterparties (whether via the Markit platform, as explained below, or at the address indicated by the end user). Similarly, the end user must provide each swap counterparty with the appropriate information in accordance with the swap distributor`s delivery instructions, which should be the brand platform. Like the August protocol, the March Protocol aims to facilitate compliance with the Dodd-Frank-based cfTC rules by offering an effective and standardized method of amending swap agreements.