Common Contracts

PRACTICE NOTES TO THE MASTER CONFIRMATION AGREEMENT FOR

December 13th, 2006

• Filed
  December 13th, 2006

The Master Confirmation Agreement for Non-Deliverable Forward FX Transactions (“Master Confirmation”) is being published on December 13, 2006 by the Foreign Exchange Committee (FXC) with the support of the Financial Markets Lawyers Group (FMLG) and the Master Confirmation’s cosponsors, EMTA, Inc. (EMTA) and the Foreign Exchange Joint Standing Committee (FX JSC). The FXC published the Master Agreement Addendum for Non-Deliverable Forwards in April, 2003 (the “2003 Addendum”) to facilitate the electronic confirmation of non-deliverable forward foreign exchange transactions (“NDF Transactions”) under the 1998 FX and Currency Option Definitions published by the International Swaps and Derivatives Association, Inc., EMTA, and the FXC (the “1998 Definitions”) under the terms of currency-specific NDF Transaction confirmation templates published by EMTA that were in effect at the time of such publication. After publication of the 2003 Addendum, EMTA issued several new currency-specific NDF Tra