Swap Risk Disclosures

As a Swap Dealer registered with the Commodity Futures Trading Commission (CFTC), Natixis must comply with several Dodd-Frank regulatory requirements, such as CFTC Rule 23.431 regarding the communication of swap risk disclosures prior to entering into any over-the-counter derivatives transactions.

Per this Rule, if the institution you are representing (hereafter referred to as the “counterparty or prospective counterparty”) falls under all of the categories below:

• The counterparty or prospective counterparty is a “U.S. person” as defined by the CFTC;
• The counterparty or prospective counterparty is not a Swap Dealer or a Major Swap Participant, as defined in the Commodity Exchange Act (CEA);
• The counterparty or prospective counterparty is considering to enter into over-the-counter derivatives products known as a “swap” and further defined by the CFTC.

Natixis is required to make important disclosures regarding the material risks inherent to swap transactions, which include, but are not limited to, market, credit, liquidity, foreign currency, legal and operational risks.

These disclosures are attached to this webpage and can also be found in the Legal & Documentation section of the International Swaps & Derivatives Association (ISDA) – http://www2.isda.org/functional-areas/legal-and-documentation/disclosures/

The General and Asset-Specific Disclosures are applicable depending on the type of swap transaction that is contemplated. For example, if the counterparty or prospective counterparty is contemplating entering into an Equity Swap, the General Disclosure as well as the Equity Derivatives Disclosure Annex should be reviewed.

Further to the disclosures provided on this website, other disclosures may apply from time to time depending on the swap transactions being contemplated. Particularly in the case of bespoke or customized swaps, additional and more specific disclosures could be required. When applicable, you should examine carefully any of these additional disclosures.

While Natixis has reviewed the ISDA General and Asset-Specific Disclosures, it makes no representation as to their content which may change at any time without notice and without our knowledge. Information provided through this webpage is also subject to change without prior notice, please visit this website regularly if you would like to have the most up-to-date information.

If you have any questions about these disclosures or the general content of this website, please contact your Natixis sales representative.

Natixis shall not be liable for any decision taken on the basis of the information disclosed on this webpage.