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German JMP joins the party

ISDA has today published the German Jurisdictional Module to the ISDA Resolution Stay Jurisdictional Modular Protocol (the ISDA JMP). The ISDA JMP provides a framework to facilitate jurisdiction-specific compliance with contractual stay regulations for contracts governed by third-country laws; its structure and mechanism is reviewed in detail in this blog post.

The German Jurisdictional Module joins the UK PRA Module which was opened for adherence on 3 May 2016, other countries will be added as they are finalised. The addition of the German module enhances the scope of the ISDA JMP, however it also adds another layer of contractual data that must be managed and monitored; market participants may prefer the univocal certainty afforded by traditional amendment.

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