FIA has released revised versions of the standard legal agreements for give-up transactions. These agreements serve as templates for use by market participants to document their give-up transactions. The new versions bring the agreements up to date with changes in the legal environment and current market practices, and include an additional agreement covering the use of order passing brokers. The new versions also clarify certain legal obligations and make electronic payment the standard form of settlement. The new agreements are available through FIA's U.S. documentation platform at no cost to all market participants. Also available is a memo from the FIA Law and Compliance Division summarizing the updates made to the 2017 versions of the agreements from the prior 2008 versions. In addition to the standard agreements, the documentation includes a more tailored set of give-up agreements for transactions executed on the London Metal Exchange.
