Why is there not an Annex addressing Euro issues?
The previous ISDA Protocols that addressed issues arising as a result of the introduction of the Euro were relevant in the context of already existing transactions involving the European “legacy currencies” (the former currencies of the member states of the European Union that adopted the Euro). These types of issues are not relevant in the context of new Transactions entered into under a 2002 Master Agreement. Parties wishing to use certain of the older sets of ISDA Definitions to document Transactions involving the Euro should consider incorporating the 1998 Euro Definitions (together with the relevant older set of Definitions) into the Confirmation for the relevant Transaction.
