FX Options and NDFs

2015

• September 14 >Update to Annex A to reflect changes in the rate source definitions for the Pakistani Rupee and the Vietnamese Dong.
• Amendment to Annex A: Pakistani Rupee and the Vietnamese Dong

• May 29 > - Update to Annex A to reflect changes in settlement rate options for the Nigerian Naira, Kenyan Shilling and Zambian Kwacha.
• Amendment to Annex A: Nigerian Naira, Kenyan Shilling and Zambian Kwacha

2014

• September 1 >Updates to Annex A to reflect changes in settlement rate options for the Indian Rupee and Brazilian Real.
• Amendment to Annex A: Indian Rupee and Brazilian Real

2013

• August 1 - Updates to Annex A to reflect Asian benchmark changes for the Indonesian rupiah, Malaysian ringgit, Singapore dollar, Thai baht, and the Vietnamese dong
• Revisions to Annex A 1998 FX and Currency Option Definitions
• Revisions to Template Terms
• Links to SFEMC's indicative rate survey methodologies:
• IDR Methodology
• MYR Methodology

• March 25 - New Egyptian Pound Amendment to Annex A to the 1998 Foreign Exchange and Currency Option Definitions Announced by EMTA, ISDA, and the FXC
• Amendment to Annex A: Egyptian Pound

2012

• May 9 - New Ghanaian Cedi Amendment to Annex A to the 1998 Foreign Exchange and Currency Option Definitions Announced by EMTA, ISDA, and the FXC
• Amendment to Annex A: Ghanaian Cedi
• Compendium of Amendments to Annex A

2011

• August 17 - New Brazilian Real PTAX Amendment Announced by EMTA, ISDA and the FXC
• Amendments to Annex A: Brazilian Real
• Compendium of Amendments to Annex A
• June 8 : EMTA Releases User's Guide to Documenting Non-Deliverable Cross Currency FX and Currency Option Transactions
• Supplement to the 1998 FX and Currency Option Definition
• Amendments to Annex A to the FX and Currency Option Definitions
• June 8 : ISDA Publishes Volatility Swap Template

2010

• December 21 - New Nigerian Naira Currency and Rate Source Definitions Announced by EMTA, ISDA and FXC
• Amendments to Annex A: Nigerian Naira

2008

• July 11 - FXC Press Release regarding new Pakistani Rupee and Vietnamese Dong rate source definitions published by the FXC, EMTA and ISDA, effective June 25, 2008
• July 11 - New Pakistani Rupee and Vietnamese Dong rate source definitions published by the FXC, EMTA and ISDA, effective June 25, 2008
• July 11 - Second Addendum to 2004 Asian Currency Non-Deliverable FX Documentation: PKR/USD Non-Deliverable FX Documentation and VND/USD Non-Deliverable FX Documentation, effective July 14, 2008

2007

• November 15 - New Peruvian Sol rate source definition published by the FXC, EMTA and ISDA, effective November 15th (November 2007)
• October 31 - FXC, EMTA, and FX JSC issue Multilateral Master Confirmation Agreement for Non-Deliverable Forward FX Transactions (October 2007)
• Multilateral NDF Master Confirmation Agreement
• January 12 - FXC, EMTA and ISDA announce publication of a new compendium of amendments to Annex A of the 1998 FX and Currency Option Definitions, effective January 12th (January 2007)

2006

• December 13 – FXC, EMTA and FX JSC issue Master Confirmation Agreement for Non-Deliverable Forward FX Transactions (December 2006)
  • NDF Master Confirmation Agreement
  • User's Guide to NDF Master Confirmation Agreement
  • Addendum to NDF Master Confirmation Agreement
• October 25 – FXC, SFEMC and EMTA issue updated User’s Guide for the 2004 Asian Currency Non-Deliverable FX Documentation (October 2006)
• October 25 - New and amended Indian Rupee and Philippine Peso rate source definitions published by the FXC, EMTA and ISDA, effective October 25th (October 2006)
• August 1 - (revised August 23) New and amended Chilean Peso, Colombian Peso, and Peruvian Sol rate source definitions published by the FXC, EMTA, and ISDA, effective August 1st (August 2006)
• May 17 - The FXC, SFEMC, and EMTA issue clarifying amendment to the definition of Settlement Date in Template Terms for the 2004 Asian Currency Non-Deliverable FX Documentation (May 2006) (superseded)
  • Updated User's Guide to 2004 Asian Currency Non-Deliverable FX Documentation
  • Updated Addendum to 2004 Asian Currency Non-Deliverable FX Documentation
• May 5 - FXC, EMTA, and ISDA announce the publication of technical revisions to the 2005 Barrier Option Supplement to the 1998 FX and Currency Option Definitions
  • Revised Exhibits I and II to the 2005 Barrier Option Supplement to the 1998 FX and Currency Option Definitions
• April 3 - Amended Korean won rate source definition published by the FXC, EMTA, and ISDA, effective April 3
• March 6 - Amended Chinese Renminbi rate source definition published by the FXC, EMTA, and ISDA, effective March 6 (March 2006)

2005

• December 6 - FXC, EMTA, and ISDA announce the publication of the new 2005 Barrier Option Supplement to the 1998 FX and Currency Option Definitions
  • 2005 Barrier Option Supplement to the 1998 FX and Currency Option Definitions
  • Practice Notes to the 2005 Barrier Option Supplement
  • Currency Pair Matrix
• November 22 - FXC, EMTA, and ISDA publish Compendium of Amendments to Annex A of the 1998 FX and Currency Option Definitions, effective November 22
• November 7 - Amended Chinese Renminbi rate source definition published by the FXC, EMTA, and ISDA, effective November 7
• July 1 - SFEMC, EMTA, and FXC announce updated documentation for Malaysian Ringgit non-deliverable foreign exchange transactions, effective July 15, 2005
  • Addendum to 2004 Asian Currency Non-Deliverable FX Documentation
  • Malaysian Ringgit Template Terms
  • Malaysian Ringgit Amendment Agreement
• July 1 - New and amended Indonesian Rupiah and Malaysian Ringgit rate source definitions published by EMTA, ISDA, and the FXC, effective July 15, 2005
• July 1 - Amended Romanian Leu rate source definition published by EMTA, ISDA, and the FXC, effective July 1, 2005
• May 20 - New and Amended Russian Ruble Rate Source Definitions Announced by EMTA, ISDA, and the FXC, effective as of June 16, 2005

2004

• November 1 - The FXC, EMTA, and SFEMC Announce Updated Documentation for Non-Deliverable Foreign Exchange Transactions for Six Asian Currencies

• November 1 - EMTA, ISDA, and the FXC Announce Amended Rate Source Definitions for Six Asian Currencies, effective as of December 1, 2004
• March 8 - Compendium of Amendments To Annex A to the 1998 FX and Currency Option Definitions
• February 18 - Amended Brazilian Rate Source Definition Announced by EMTA, ISDA, and the FXC, effective as of March 1, 2004

2003

• December 2 - Amended Korean Won Rate Source Definition Announced by EMTA, ISDA, and the FXC
• April 2 - Master Agreement Supplement for Non-Deliverable Forwards
• March 3 - Amended Taiwanese Dollar Rate Source Definition Announced By ISDA, EMTA and the FXC
• January 9 (doc) - FXC recommends the use of a master agreement addendum for NDFs to minimize operational risk associated with NDF confirmations

2002

• December 20 - New and Amended Argentine Peso Rate Source Definitions Announced By EMTA, ISDA and the FXC
• April 18 - The Committee Supports EMTA's Efforts to Generate a New Methodology for Settling NDFs in the Event of an Unscheduled Market Holiday
• April 18 - Committee Recommendations to EMTA Regarding Settling NDF Contracts in the Event of an Unscheduled Market Holiday
• January 8 - FXC statement on NDF transactions involving the Argentine peso

2001

• November 23 - Foreign Exchange Committee offers Supplementary Guidance for Market Disruptions
• September 14 - REVISED - SFEMC statement regarding the treatment of the Taiwan dollar fixing rate for September 12, 2001
• July 10 - EMTA, ISDA and the FX Committee announce new and amended Argentine Peso Rate Source Definitions to Annex A effective as of July 10, 2001
• June 20 - EMTA, ISDA and FX Committee announce addition of new Korean Won rate source definitions to Annex A

2000

• December 11 - The Emerging Markets Trading Association (EMTA) has been working with the industry on resolving NDF issues and has recently published a number of suggested new best practices. These best practices can be found on EMTA's web site. Also available on the site is a summary of EMTA's current efforts to resolve the remaining open issues on NDF practices
• September 28 - The FX Committee recommemds the use of the new templates (1) the Knock-Out/Knock-In Barrier Option Template and (2) the Binary Option Template
• September 22 - ISDA, EMTA, & FX Committee Announce Website Publication of Revised Annex A to 1998 FX and Currency Option Definitions
• September 22 - Revised Annex A to 1998 FX and Currency Option Definitions, effective September 25, 2000
• September 07 - Current and Historical Implied Volatility Rates for FX Options at Month End
• September 22 - Revised Annex A to 1998 FX and Currency Option Definitions, effective September 25, 2000
• March 14 - EMTA, ISDA and FX Committee announce addition of new Brazilian Real rate source definition
• February 17 - FXC announces new set of best practices for the barrier option market

1999

• August 25 - EMTA, ISDA and the FX Committee announce amendments to the Philippine peso rate source definitions
• February 3 - New Brazilian Real Rate Sources Announced by EMTA, ISDA and the FX Committee

1998

• September 10 - New Ruble Rate Definition Published by ISDA, EMTA and FX Committee
• September 3 - Foreign Exchange Committee Recommends Close-out of Ringgit Positions
• August 11 - FXDS: The Benefits of Foreign Exchange Transactions that Settle Difference Only