(published June 30, 2005)

The 2005 ISDA Commodity Definitions, the Exhibits to the 2005 ISDA Commodity Definitions which include standard Confirmation templates, and the Annex to the 2005 ISDA Commodity Definitions, are intended for use with the ISDA Master Agreements, or other agreements, and are designed to be incorporated into Confirmations of individual commodity transactions governed by those agreements. The Commodity Definitions significantly update and expand upon the 1993 ISDA Commodity Derivatives Definitions and the 2000 Supplement to the 1993 Definitions, as well as incorporate the 1997 ISDA Bullion Definitions. The Commodity Definitions are for use by participants in privately negotiated commodity transactions including cash-settled commodity swaps, basis swaps, options, caps, collars, floors, swaptions and commodity index transactions, as well as certain physically-settled commodity transactions. A sample form of letter agreement constituting a Confirmation, together with specific provisions for use in Confirmations that document different types of commodity transactions, are included in the Exhibits. The Annex includes revised Commodity Reference Prices (in Sub-Annex A) together with additional definitions, other provisions and forms of Confirmation relevant to bullion transactions, weather index derivative transactions, European physical gas transactions, North American physical gas and power transactions, GTMA transactions, EU emissions allowance transactions and freight transactions (Sub-Annexes B-I).

The 2005 ISDA Commodity Definitions contain the following sections:

1. 2005 Commodities Definitions
2. Exhibits
3. Annex
   1. Sub-Annex A
   2. Sub-Annex B
   3. Sub-Annex C
   4. Sub-Annex D
   5. Sub-Annex E
   6. Sub-Annex F
   7. Sub-Annex G
   8. Sub-Annex H
   9. Sub-Annex I
4. Index
5. User’s Guide

The 2005 Commodities Definitions are now available only by one-year subscription in MyLibrary.