On April 14, 2016, the International Swaps and Derivatives Association, Inc. (“ISDA”) published a new version of Credit Support Annex to help market participants comply with new margin requirements for uncleared swaps. The 2016 Credit Support Annex for Variation Margin (the “2016 VM CSA”) is intended to be used with New York law ISDA Master Agreements and is the first in a series of documents to be published by ISDA over the next few months to facilitate compliance with uncleared swap margin requirements coming into effect in several different jurisdictions.

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