The groups said in a press release that they have published the FIA-ISDA Cleared Derivatives Execution Agreement as a template that can be used by participants in the cleared swaps markets in negotiating execution-related agreements with counterparties to over-the-counter derivatives that are intended to be cleared.
Organized trading facilities in Europe, like Swap Execution Facilities (SEF) in the US, will bring over the counter derivatives (OTC) out blinking into the light.