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FX and Currency Derivatives Current Templates

CURRENT RECOMMENDED EMTA TEMPLATE TERMS

The EMTA Template Terms for Non-Deliverable FX Forward Transactions, Non-Deliverable Currency Option Transactions and Non-Deliverable Cross Currency Transactions for various currency pairs are set forth below. These Template Terms, in each case, are the terms currently recommended by EMTA for forwards, options and cross currency transactions for each such currency pair. Please note that the Template Terms are not intended to be a substitute for a confirmation, but are intended to reflect market consensus on material non-trade terms that may be incorporated into a trade confirmation, unless otherwise agreed by the parties. Market participants are welcome to incorporate the Template Terms for any currency pair into their trade confirmations or may agree on different terms.

EMTA disclaims liability for any use made of any of the Template Terms by any market participant, and no representation or warranty, express or implied, is made concerning the terms, their enforceability or suitability for use in connection with any particular transaction. Market participants are advised to consult their own legal and other experts and to make their own determinations regarding these matters.

Documentation hosted on this page may be subject to copyright restrictions. EMTA has made this documentation available solely for use by market participants in connection with the documentation of trade transactions, and all other uses are expressly prohibited. In particular, the re-distribution, re-publication or any other commercial use by market counterparties or other institutions or individuals is prohibited without the prior written permission of EMTA, Inc.

Other FX-related documentation is found on the EMTA website, but may be reserved for access by EMTA Members using their website log-in credentials. Non-members wishing copies of this documentation (a fee may apply) are welcome to CONTACT US.

EMTA Members are also encouraged to view the EMTA FX and Currency Derivatives Market Practices for the text of the specific EMTA market practice recommendation that accompanied the publication of each set of Template Terms.

The Template Terms that are available within the categories of non-deliverable forwards, currency options and cross currency transactions are listed below, alphabetically by currency code.


Current Recommended EMTA Template Terms for Non-Deliverable FX Forward Transactions

EMTA Template Terms for AOA/USD Non-Deliverable FX Forward Transactions Effective March 16, 2020

EMTA Template Terms for ARS/USD Non-Deliverable FX Forward Transactions Effective October 7, 2019

EMTA Template Terms for BRL/USD Non-Deliverable FX Forward Transactions Effective January 22, 2018

EMTA BRL Exchange Rate Divergence Procedures

EMTA Template Terms for CLP/USD Non-Deliverable FX Forward Transactions Dated January 1, 2018

SFEMC/EMTA/FXC Template Terms for CNY/USD Non-Deliverable FX Forward Transaction Dated May 17, 2006

EMTA Template Terms for COP/USD Non-Deliverable FX Forward Transactions Dated January 1, 2018

EMTA Template Terms for EGP/USD Non-Deliverable FX Forward Transactions Dated January 1, 2018

EMTA Template Terms for GHS/USD Non-Deliverable FX Forward Transactions Effective May 1, 2020

SFEMC/EMTA/FXC Template Terms for IDR/USD Non-Deliverable FX Forward Transaction Dated March 28, 2014

SFEMC/EMTA/FXC Template Terms for INR/USD Non-Deliverable FX Forward Transaction Dated July 10, 2018

EMTA Template Terms for KES/USD Non-Deliverable FX Forward Transactions Effective May 1, 2020

EMTA Template Terms for KZT/USD Non-Deliverable FX Forward Transactions Effective March 16, 2020

SFEMC/EMTA/FXC Template Terms for KRW/USD Non-Deliverable FX Forward Transaction Dated May 17, 2006

SFEMC and EMTA Template Terms for MYR/USD Non-Deliverable FX Forward Transactions Effective July 18, 2016

EMTA Template Terms for NGN NAFEX / USD Non-Deliverable FX Forward Transactions Effective October 13, 2017

EMTA Template Terms for PEN/USD Non-Deliverable FX Forward Transactions Dated January 1, 2018

SFEMC/EMTA/FXC Template Terms for PHP/USD Non-Deliverable FX Forward Transactions Effective April 1, 2018

EMTA Template Terms for RUB/USD Non-Deliverable FX Forward Transactions Dated January 1, 2018

SFEMC/EMTA/FXC Template Terms for TWD/USD Non-Deliverable FX Forward Transaction Dated May 17, 2006

EMTA Template Terms for UAH/USD Non-Deliverable FX Forward Transactions Effective November 21, 2018

EMTA Template Terms for UGX/USD Non-Deliverable FX Forward Transactions Effective March 16, 2020

EMTA Template Terms for UYU/USD Non-Deliverable FX Forward Transactions Effective March 16, 2020

EMTA Template Terms for ZMW/USD Non-Deliverable FX Forward Transactions Effective May 1, 2020

 

Current Recommended EMTA Template Terms for Non-Deliverable Currency Option Transactions

EMTA Template Terms for AOA/USD Non-Deliverable Currency Option Transactions Effective March 16, 2020

EMTA Template Terms for ARS/USD Non-Deliverable Currency Option Transactions Effective October 7, 2019

EMTA Template Terms for BRL/USD Non-Deliverable Currency Option Transactions Effective January 22, 2018

EMTA BRL Exchange Rate Divergence Procedures

EMTA Template Terms for CLP/USD Non-Deliverable Currency Option Transactions Effective January 1, 2018

EMTA Template Terms for CNY/USD Non-Deliverable Currency Option Transactions Dated July 1, 2008

EMTA Template Terms for COP/USD Non-Deliverable Currency Option Transactions Effective January 1, 2018

EMTA Template Terms for EGP/USD Non-Deliverable Currency Option Transactions Effective January 1, 2018

EMTA Template Terms for GHS/USD Non-Deliverable Curency Option Transactions Effective May 1, 2020

EMTA Template Terms for IDR/USD Non-Deliverable Currency Option Transactions Dated March 28, 2014

EMTA Template Terms for INR/USD Non-Deliverable Currency Option Transactions Dated July 10, 2018

EMTA Template Terms for KES/USD Non-Deliverable Curency Option Transactions Effective May 1, 2020

EMTA Template Terms for KRW/USD Non-Deliverable Currency Option Transactions Dated July 1, 2008

EMTA Template Terms for KZT/USD Non-Deliverable Currency Option Transactions Effective March 16, 2020

EMTA Template Terms for MYR/USD Non-Deliverable Currency Option Transactions Effective July 18, 2016

EMTA Template Terms for NGN NAFEX / USD Non-Deliverable Currency Option Transactions Effective October 13, 2017

EMTA Template Terms for PEN/USD Non-Deliverable Currency Option Transactions Effective January 1, 2018

EMTA Template Terms for PHP/USD Non-Deliverable Currency Option Transactions Dated April 1, 2018

EMTA Template Terms for RUB/USD Non-Deliverable Currency Option Transactions Effective January 1, 2018

EMTA Template Terms for TWD/USD Non-Deliverable Currency Option Transactions Dated July 1, 2008

EMTA Template Terms for UAH/USD Non-Deliverable Currency Option Transactions Effective November 21, 2018

EMTA Template Terms for UGX/USD Non-Deliverable Currency Option Transactions Effective March 16, 2020

EMTA Template Terms for UYU/USD Non-Deliverable Currency Option Transactions Effective March 16, 2020

EMTA Template Terms for ZMW/USD Non-Deliverable Curency Option Transactions Effective May 1, 2020

 

Current Recommended EMTA Template Terms for Non-Deliverable Cross Currency Transactions

FX Forwards

EMTA Template Terms for BRL/EUR Non-Deliverable Cross Currency FX Transactions Effective January 22, 2018
EMTA BRL Exchange Rate Divergence Procedures

EMTA Template Terms for CLP/EUR Non-Deliverable Cross Currency FX Transactions Effective January 1, 2018

EMTA Template Terms for CNY/EUR Non-Deliverable Cross Currency FX Transactions Dated May 31, 2011

EMTA Template Terms for COP/EUR Non-Deliverable Cross Currency FX Transactions Effective January 1, 2018

EMTA Template Terms for INR/EUR Non-Deliverable Cross Currency FX Transactions Dated July 10, 2018

EMTA Template Terms for INR/GBP Non-Deliverable Cross Currency FX Transactions Dated July 10, 2018

EMTA Template Terms for KRW/JPY Non-Deliverable Cross Currency FX Transactions Dated May 31, 2011

Currency Options
EMTA Template Terms for RUB/EUR Non-Deliverable Cross Currency Currency Option Transactions Effective January 1, 2018

 

Standard Definitions

Annex A Chronological List of Amendments

Annex A Amended as of May 1, 2020

Non-Deliverable Cross Currency FX Transactions Supplement to the 1998 Definitions Dated May 31, 2011

EMTA Guidance Note on Settlement Rate Formula Options