Participants discussed product definitions.

Participants discussed segregation.

Participants discussed the Commissions' proposed guidance with respect to fixed rate resets and the determination of whether a Title VII Instrument is a swap or a security-based swap.  The Commissions had proposed guidance that if the fixed rate is informed by, or quoted based on, the yield of a security, and the floating rate is based on LIBOR, the Title VII instrument would be a swap and not a security-based swap, provided that the fixed rate was set at execution and could not vary over the life of the instrument.  ISDA in its comment letter stated that it believes that thi

Parties discussed SEF execution methods

Participants discussed recordkeeping practices in the power industry as they relate to book outs of forward contracts.

Participants discussed SIFMA's comment regarding total return equity swaps, including quanto and compo equity swaps.

Participants discussed execution methods.

Discussion focused on the insurance exclusion from the swap definition; the NAIC had some suggested changes to the proposed rule text.

Participants discussed recordkeeping procedures for bookout transactions.

Participants discussed the guidance regarding loan participations in the proposing release, and LSTA/LMA's proposed alternative criteria for loan participations.