Jefferies

Dodd-Frank Overview 

Pursuant to the “Business Conduct Standards for Swap Dealers and Major Swap Participants Dealing with Counterparties” (the “EBC Rules”) issued by the Commodity Futures Trading Commission (the “CFTC”) and certain other rules promulgated by the CFTC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”), Jefferies Financial Products, LLC and Jefferies Financial Services, Inc. (each individually and collectively, “Jefferies”), as swap dealers provisionally registered with the CFTC, have certain notification and disclosure obligations to end-user counterparties and prospective counterparties in relation to entering into a CFTC-regulated swap (a “swap”).  An “end-user” is any swap counterparty other than a swap dealer or major swap participant. In particular, pursuant to CFTC Rule 23.431 swap dealers are required to provide disclosures of certain material information prior to entering into a swap with you in order to enable you to assess material risks of the swap, including:

  1. The material risks of a swap, which may include market, credit, liquidity, foreign currency, legal, operational, and any other applicable risks;
  2. The material characteristics of a swap, which shall include the material economic terms of the swap, the terms relating to the operation of the swap, and the rights and obligations of the parties during the term of the swap; and
  3. The material incentives and conflicts of interest the swap dealer may have in connection with a swap.

On and through this website, you will find notices and disclosures for swap products that you may trade with us as well as forms of counterparty relationship documentation that may govern your relationship with Jefferies, including ISDA Master Agreement, Credit Support Documentation, and other supplemental materials. These notices and disclosures should be reviewed prior to entering into in a swap with us.

You must not enter into a swap with us unless:

  1. You understand the economic and contractual terms of the swap;
  2. You understand the risks to which you will be exposed as a result of the swap (including, without limitation, market risk and the credit risk of Jefferies) and are capable of bearing those risks and the economic losses they may cause;
  3. You are aware that our interests as your counterparty in any swap will be in conflict with your interests and that we consequently will not be (a) acting as your fiduciary or advisor, or (b) assessing whether the swap is appropriate, proper or suitable for you; and
  4. You (either on your own or on the basis of advice from advisors other than Jefferies) have made your own independent decision to enter into the swap and that the swap is appropriate, proper and suitable for you based on your risk appetite and your financial sophistication, objectives and condition.

Please use the menu on the left to navigate to the disclosures, notifications and counterparty relationship documentation.

In order to access certain information, you will need a password that has previously been emailed to you. In the event you require or forgot the password, or if you have any questions, please feel free to contact either your Jefferies representative or email us at ClientOnBoardingAmericas@jefferies.com.

 

ISDA holds copyright on certain ISDA documents (“ISDA Content”) and such works may not be reproduced or distributed without ISDA’s written permission, except the ISDA Master Agreements, ISDA Credit Support Documents and standardized general and product specific risk disclosures published by ISDA, which may be reproduced and distributed solely for use in documenting specific commercial transactions.  In no event may any copyright or trademark notice be removed.  ISDA makes no warranty, express or implied, concerning the suitability of ISDA documentation for use in any particular transaction. You should only enter into transactions after receiving appropriate legal advice with respect to the provisions of ISDA documentation as ISDA bears no responsibility or liability whatsoever, whether in tort or contract, in respect of any such use.  ISDA, its officers, directors, employees, subcontractors, agents, successors or assigns (collectively “Covered Parties”) shall not be liable  to you for any loss, injury, claim, liability or damage of any kind whatsoever resulting from, arising out of or in any way related to: (a) any errors in or omissions from the ISDA Content; (b) your use of the ISDA Content; (c) your use of any equipment or software in connection with the ISDA Content; or (d) any delay or failure in performance. The aggregate liability of the Covered Parties  to you in connection with any other claim arising out of or relating to the ISDA Content shall not exceed $500.00, which right shall be in lieu of all other remedies that you may have against ISDA. In no event shall the Covered Parties be liable for any special, indirect, incidental or consequential damages of any kind whatsoever (including, without limitation, attorneys’ fees), lost profits or lost savings in any way due to, resulting from or arising in connection with the ISDA Content contained therein, regardless of any negligence of the Covered Parties.

Links to websites provided herein are for your reference and convenience.  By clicking on the links to those certain websites you leave the Jefferies website and acknowledge that Jefferies has no control over the content of those websites or the continued availability of materials you may find there.

All material other than ISDA Content, the EMTA Template Terms and Confirmation templates and materials accessed via links to websites of third parties is the property of Jefferies or its licensors.