Credit Derivative Transactions
- Transaction Risk Information, Disclosures and Documents
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Disclosures
ISDA General Disclosure Statement for Transactions
The ISDA General Disclosure Statement for Transactions describes generally: (1) the material characteristics of a wide variety of derivative transactions that we may conduct with you; (2) the material risks of such transactions; and (3) typical material incentives and conflicts of interest that we may have with respect to such transactions. The ISDA General Disclosure Statement for Transactions is supplemented with more product specific disclosures contained in annexes, including the ISDA Disclosure Annex for Credit Derivative Transactions. For Credit Derivative Transactions, the ISDA General Disclosure Statement for Transactions should be read in conjunction with the ISDA Disclosure Annex for Credit Derivative Transactions.
ISDA Disclosure Annex for Credit Derivatie Transactions
The ISDA Disclosure Annex for Credit Derivative Transactions supplements and should be read in conjunction with the ISDA General Disclosure Statement for Transactions. NOTHING IN THE ISDA DISCLOSURE ANNEX FOR CREDIT DERIVATIVE TRANSACTIONS AMENDS OR SUPERSEDES THE EXPRESS TERMS OF ANY TRANSACTION BETWEEN YOU AND US OR ANY RELATED GOVERNING DOCUMENTATION. Accordingly, descriptions in the ISDA Disclosure Annex for Credit Derivative Transactions of the operation of Credit Derivative Transactions and the consequences of various events are in all cases subject to the actual terms of an Credit Derivative Transaction executed between you and us and its governing documentation.
Material Economic Terms
Below are the Material Economic Terms that Jefferies is required to provide to you pursuant to CFTC Rule 23.431 and SEC Rule 240.15Fh-3(b) in relation to Credit Derivative Transactions entered into between us. These terms should be read prior to entering into Credit Derivative Transactions with us.
Certain rights and obligations of the parties to derivative transactions, including Credit Derivative Transactions, are contained in Counterparty Relationship Documentation. Please click on the Transaction Risk Information, Disclosures and Documents under Dodd-Frank Overview on the left to find certain forms of Counterparty Relationship Documentation that may be applicable to your relationship with Jefferies.
Certain terms relating to the operation of a Credit Derivative Transaction are contained in the provisions of the 2014 ISDA Credit Derivatives Definitions (“2014 Credit Definitions”), the 2003 ISDA Credit Derivative Definitions (“2003 Credit Definitions” and together with the 2014 Credit Definitions, the “Credit Definitions”) or the 2006 Definitions. Please also note certain terms for Credit Derivative Transactions have been provided by MarkitSERV. The relevant confirmation will generally incorporate by reference either the 2014 Credit Definitions, the 2003 Credit Definitions or the 2006 Definitions. Below are links to the 2014 Credit Definitions, the 2003 Credit Definitions, and the 2006 Definitions. Additional and supplementary documents, confirmation templates and standard terms published by ISDA relevant to Credit Derivative Transaction are available from ISDA at: https://www.isda.org/books/ and IHS Markit at https://www.markit.com/Documentation/Product/CDX.
Please refer to your Counterparty Relationship Documentation, the Credit Definitions, as well as the relevant disclosures applicable to Credit Derivative Transactions prior to engaging in Credit Derivative Transactions with us.
2014 ISDA Credit Derivatives Definitions
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.