November 1, 2004
The Singapore
Foreign Exchange Market Committee (SFEMC), EMTA, Inc. and the New York
Foreign Exchange Committee, acting as co-sponsors, are pleased to announce
the publication of updated documentation for non-deliverable foreign exchange
transactions for six Asian currencies. The Tokyo Foreign Exchange Committee
and the Treasury Markets Forum of Hong Kong support the co-sponsors in their
publication of the updated documentation for the benefit of market participants.
In addition, for the convenience of their constituents and the marketplace,
EMTA and the SFEMC will sponsor the signing of a multilateral amendment
for
their members and other market participants who wish to amend their outstanding
contracts to incorporate the new template terms. For these institutions
who wish to participate, information pertaining to the multilateral amendment
for such currencies may be found on the websites of EMTA and the Singapore
Institute of Banking and Finance (IBF), which is administering the amendment
on behalf of the SFEMC. The effective date of the amendment is December
1, 2004, whether the amendment is signed before or after the date.
The
SFEMC, EMTA, and FXC Announce Updated Documentation for Non-Deliverable
Foreign Exchange Transactions for Six Asian Currencies
(pdf, Press Release 2 pages)
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