The International Swaps and Derivatives  Association (ISDA), after consultation with  industry participants, it will launch a protocol to facilitate  settlement of credit derivative trades involving Fannie Mae and  Freddie Mac, the U.S. government sponsored entities that went into  conservatorship of the US government, effective Sunday, Sept. 7.

This Protocol will be open to ISDA members and non-members alike, according to a press release from the association. ISDA  will publish further details later on.

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