London—6 August 2018 — FIA today announced the publishing of a fully updated and comprehensive set of industry standard contractual terms for derivatives clearing – the FIA Terms of Business 2018.
For over 15 years, FIA has maintained a suite of Terms of Business for the provision of client clearing services in partnership with the law firm Clifford Chance LLP, to assist member firms in ensuring that their contractual documentation is up-to-date and compliant with the latest regulatory developments and business practices.
FIA today also developed a User Guide for the FIA Terms of Business 2018 to assist firms in understanding the regulatory background to most of the provisions and to provide alternative/optional clauses that firms may use in the FIA Terms of Business 2018, as appropriate. The User Guide consists of:
• Explanation of clauses;
• Regulatory references and notes;
• Alternative/additional provisions;
• Diagrams, decision trees and other user information.
A preview version of the FIA Terms of Business 2018 is available to anyone who creates an account with FIA's Documentation Library. Full access to the FIA Terms of Business 2018 and User Guide are available by subscription only. Contact Mitja Siraj, FIA's Vice President of Legal, Europe, for details on how to subscribe.
