What changes are made for bond options?
In cases where a bond is redenominated into Euro, the economic value of a bond option may be affected due to changes in conventions or renominalisation of principal amounts. This may require changes to strike prices or cash payments. The standard amendment under the Protocol empowers calculation agents to make necessary adjustments. Top of Page ISDA’s Role and How to Participate What is ISDA’s role in the Protocol? ISDA acts as an agent for participating firms. It will receive adherence letters, update the web site and scan conformed adherence letters. The Association also publishes the Protocol and provides information about the arrangement. How can my firm participate in the ISDA Protocol? Firms can participate by downloading all necessary information from the ISDA web site and then submitting an adherence letter, as well as a conformed copy of that adherence letter, to either ISDA’s London or New York office. Are parties required to provide evidence of authority to ISDA? No. Parties
