Post by Sapphire Capital on Mar 16, 2009 6:53:47 GMT 4
FXC Master Agreements
The FXC Master Agreements—the FEOMA (1997), IFEMA (1997), ICOM Master Agreement (1997) and IFXCO Master Agreement (2005)—provide common legal terms for transactions including payments and close-out netting provisions. The IFEMA covers foreign exchange transactions, the ICOM Master Agreement covers currency option transactions and the FEOMA, a combination of the IFEMA and ICOM Master Agreement, covers both.
The IFXCO Master Agreement updates the other FXC Master Agreements by incorporating terms from the 1998 FX and Currency Option Definitions and recommendations of the Global Documentation Steering Committee. The IFXCO Master Agreement also simplifies execution through use of an Adherence Agreement to its Terms. The Financial Markets Lawyers Group has solicited legal opinions on the enforceability of the FXC Master Agreements from counsel in various jurisdictions. The Foreign Exchange Committee also co-sponsored with the London Bullion Market Association the 1994 International Bullion Master Agreement, which provides common terms for bullion transactions based on foreign exchange trading conventions.
* International Foreign Exchange and Currency Option Master Agreement (June 2005) www.newyorkfed.org/fxc/ifxco_booklet.pdf
o IFXCO Terms www.newyorkfed.org/fxc/ifxco_terms.pdf
o IFXCO Adherence Agreement (pdf) www.newyorkfed.org/fxc/ifxco_adherence.pdf
o IFXCO Adherence Agreement (word) www.newyorkfed.org/fxc/adherence_agreement.doc
o IFXCO Guide to Changes to the FXC Master Agreements www.newyorkfed.org/fxc/ifxco_guide.pdf
o IFXCO List of Opinions www.newyorkfed.org/fxc/ifxco_http://www.newyorkfed.org/fxc/2006/fxc120506c.pdfopinions.pdf
o December 2006 Amendment to Section 1.2 of IFXCO www.newyorkfed.org/fxc/2006/fxc120506b.pdf
o Explanatory Note for December 2006 Amendment www.newyorkfed.org/fxc/2006/fxc120506c.pdf
o FMLG Promulates Second Amendment to the IFXCO www.newyorkfed.org/fmlg/documentation/IFXCO_Amendment_Letterhead.pdf
o Second Amendment to the IFXCO Terms www.newyorkfed.org/fmlg/documentation/Second_Amendment_IFXCO_Terms.pdf
o Explanatory Note for IFXCO Second Amendment www.newyorkfed.org/fmlg/documentation/Explanatory_Note_IFXCO_Tax_Amendment.pdf
* Revision to the Schedule to the 1997 IFEMA, ICOM and FEOMA Agreements Regarding Optional Event of Default for Japanese Counterparties (April 2003) www.newyorkfed.org/fxc/notice.doc
* International Foreign Exchange and Options Master Agreement (FEOMA) (1997) www.newyorkfed.org/fmlg/feoma.pdf
o Schedule www.newyorkfed.org/fmlg/feosch.doc
* International Foreign Exchange Master Agreement (IFEMA) (1997) www.newyorkfed.org/fmlg/ifema.pdf
o Schedule www.newyorkfed.org/fmlg/ifemasch.doc
o Guide www.newyorkfed.org/fmlg/ifemagui.pdf
* International Currency Options Market Master Agreement (ICOM) (1997) www.newyorkfed.org/fmlg/(icom).pdf
o Schedule
o Guide
* International Bullion Master Agreement and Guide (1994) www.newyorkfed.org/fmlg/fmlg_1994_bullion.PDF