Confirmation Templates

Wells Fargo Bank, N.A. may use standard form confirmation templates made available to you on or through this web page to complete and send you a confirmation to be executed pursuant to CFTC Rule 23.501 and/or SEC Rule 15Fi-2 when you enter into a swap and/or security-based swap respectively with us. These templates are being furnished to you solely for purposes of disclosing material characteristics of swaps and/or security-based swaps that we may enter into with you from time to time, and any confirmation we send you in draft or execution form for a potential or executed swap and/or security-based swap will supersede such templates. In addition, the agreed terms of any swap and/or security-based swap that you enter into with us may differ materially from terms reflected in these templates.

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Single name credit default (security-based) swap transactions e.g., single and narrow-based (if applicable) reference entity credit default swaps (credit SBS) are confirmed on various electronic execution platforms on which such transactions are executed. Generally, Wells Fargo Bank, N.A. (“Wells Fargo”) will upload the primary economic terms upon which the transaction has been agreed and executed to the relevant execution platform’s trade matching capability and the execution platform confirms the transaction by matching the counterparty’s side of the transaction to verify both sides of the transaction match all required fields and then submits the matched confirmed transaction for clearing to the relevant clearing house (e.g., ICE Clear Credit). Wells Fargo currently electronically executes credit SBS on Bloomberg SEF (BSEF) and TradeWeb (TW) each of which provide electronic confirmations under their respective rule books found at the below links. Wells Fargo also matches executed credit SBS on Marketwire/MarkitSERV (IHS Markit) which provides trade processing, confirmations and connectivity to various clearing houses. Typically these electronic platforms incorporate the ISDA form or a variation of ISDA’s template confirmation including the Credit Derivatives Physical Settlement Matrix which are found at the below (ISDA Resources) link. Wells Fargo clears credit SBS at ICE Clear Credit, which is an SEC registered Clearing Agency. ICE Clear Credit utilizes its ICE Link functionality to match electronically executed credit SBS that are submitted to ICE Clear Credit for clearing and its ICE eConfirm to confirm transactions that are submitted to it for clearing.  Links to these capabilities with further details and related information for your reference are included below.  For bilateral transactions that are not electronically executed or cleared, Wells Fargo utilizes the ISDA template form of confirmation which is found at the below link to ISDA Resources. 

Product type (links to confirmation template)

Product type (links to confirmation template)

Product type (links to confirmation template)

Product type (links to confirmation template)

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