Cleared Derivatives Execution Agreements

The International Swaps and Derivatives Association and the Futures Industry Association published a template Cleared Derivatives Execution Agreements (CDEA) for use by counterparties to enter into over-the-counter derivatives transactions that are intended to be cleared. The agreement establishes fallbacks in the event a trade fails to clear. The most current versions of the CDEA are those published in 2012, intended primarily for use in the US, and in 2017, intended for the European and global markets.