Open from July 5 to August 2, 2013

At the request of their members, ISDA and EMTA will accept a submission by email (ndfamend@cliffordchance.com) or fax (65-6410 2288) of the duly signed FX-MAA up to 12 midnight New York time on Friday August 2, 2013. The original hard copy can reach Clifford Chance Pte Ltd (12 Marina Boulevard, 25th Floor, Tower 3, Marina Bay Financial Centre, Singapore 018982 for the attention of: Paul Landless) after August 2. Please note that this will be the absolute latest time that submissions will be accepted as the list of adherents must be finalized and circulated on Monday morning Singapore time to enable adhering banks to do the needful.

The Association of Banks in Singapore (ABS), in consultation with the Singapore Foreign Exchange Market Committee (SFEMC) had on June 14, 2013, announced a number of changes to the ABS financial benchmarks in order to enhance the robustness, transparency and efficiency of the benchmark contribution process in Singapore. For further information, please refer to the ABS and SFEMC press release, SFEMC statement and related materials.

Click here for ABS and SFEMC press release.

Click here for SFEMC statement.

Click here for ABS Trading Protocol.

Click here for ABS Industry FAQs.

Click here for Blue Book updates — Benchmark Rate Setting.

Click here for SFEMC Explanatory Note.

Click here for SFEMC’s Suggested Form of Post-Publication Letter to Wholesale Customers on FX Benchmark Changes (where pre-publication letter has been sent).

Click here for SFEMC’s Suggested Form of Post-Publication Letter to Wholesale Customers on FX Benchmark Changes (where pre-publication letter has not been sent).

In order to facilitate a smooth transition to the new benchmarks, the SFEMC has made a number of recommendations, including that parties should mutually agree to amend NDF and other relevant contracts referencing the existing SGD, THB, IDR or MYR spot rate benchmarks that remain outstanding on August 6, 2013 to reference (as applicable) the new spot rate benchmarks for SGD, THB or IDR or the existing onshore MYR spot rate benchmark.

This Multilateral Amendment Agreement (FX-MAA) has been published to assist parties wishing to make the amendments referred to above. The FX-MAA is open to ISDA members and non-members. You need not pay any fee to sign up to the FX-MAA. Please note that you must sign up to the FX-MAA no later than 5:00 p.m. Singapore time on August 2, 2013. ISDA and EMTA will publish on their websites the list of parties who have signed up to the FX-MAA but for ‘Member Only’ access. The list will also be circulated to all parties who have signed up to the FX-MAA. Please refer to the “Instructions to Signing” attached to the FX-MAA for more details.