Legal Opinions List - In Subscription Model - FIA Documentation Services

Legal Opinions List - In Subscription Model

NCCL = No Change Confirmation Letter

BD = Brief Description

FIA Legal Opinions Refresher - Webinar (13 October 2021)

FIA Legal Opinions - Slides (October 2021).pdf

FIA Legal Opinions - Info Sheet (October 2021).pdf

Jurisdiction	Netting & Collateral Opinions	NCCL	CCP Opinions	NCCL
Australia	UPDATED Netting Opinion (Aug 2023) Blackline (2023 vs 2020) Netting Opinion (June 2020) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (Aug 2023) Blackline (2023 vs 2019) Collateral Opinion (March 2019) Collateral Opinion (Feb 2013)	BD (Nov 2021) NCCL (Oct 2020) NCCL (Dec 2015)	UPDATED ASX Clear (Futures) Pty Ltd (May 2023) ASX Clear (Futures) Pty Ltd (Oct 2018) ASX Clear (Futures) Pty Ltd (Dec 2013)	NCCL - ASX (March 2022) NCCL - ASX (Feb 2021) NCCL - ASX (Dec 2019)
Austria	UPDATED Netting Opinion (Sept 2022) Blackline (2022 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (Sept 2022) Blackline (2022 vs 2018) Collateral Opinion (March 2018) Collateral Opinion (Feb 2013)	NCCL (Nov 2023) BD (Oct 2021) NCCL (July 2020) NCCL (June 2019)
Bahamas	UPDATED Netting Opinion (May 2021) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (May 2021) Collateral Opinion (Feb 2013)	NCCL (Oct 2023) NCCL (Sept 2022) NCCL (Dec 2018)
Bahrain Add-on subscription	Netting Opinion (March 2020)	NCCL (April 2023) NCCL (April 2022) NCCL (April 2021)
Belgium	*UPDATED* Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (March 2018) Collateral Opinion (Jan 2013)	NCCL (Jan 2023) NCCL (Oct 2021) NCCL (Aug 2020) NCCL (June 2019)
Bermuda	UPDATED Netting Opinion (Nov 2020) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (Nov 2020) Collateral Opinion (April 2013)	NCCL (April 2023) NCCL (March 2022) NCCL (March 2019)
Brazil	UPDATED Netting Opinion (June 2023) Blackline (2023 vs 2020) Netting Opinion (May 2020)	BD (July 2022) NCCL (June 2021)	B3 CCP Opinion (Sept 2021) BM&F Bovespa SA CCP Opinion (June 2014)	NCCL (Oct 2023) NCCL (Sept 2022)
British Virgin Islands	*UPDATED* Netting Opinion (June 2020) Netting Opinion (Dec 2013) *UPDATED* Collateral Opinion (June 2020) Collateral Opinion (Feb 2013)	NCCL (Aug 2023) NCCL (Aug 2022) NCCL (July 2021) NCCL (March 2019)
Bulgaria Add-on subscription	Netting Opinion (Oct 2020)	NCCL (Jan 2024) NCCL (Dec 2022) NCCL (Nov 2021)
Canada - Ontario Canada - Quebec	*UPDATED* Netting Opinion (Jan 2020) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (Jan 2020) Collateral Opinion (Jan 2013) UPDATED Netting Opinion (April 2022) Blackline (2022 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (April 2022) Blackline (2022 vs 2018) Collateral Opinion (March 2018) Collateral Opinion (Jan 2013)	NCCL (April 2023) NCCL (March 2022) NCCL (Feb 2021) NCCL (Jan 2019) BD (Oct 2021) NCCL (Sept 2020) NCCL (Aug 2019)	*NEW* The Canadian Derivatives Clearing Corporation CCP Opinion (May 2020) The Canadian Derivatives Clearing Corporation CCP Opinion (Feb 2013)	NCCL (Aug 2023) NCCL (July 2022) NCCL (June 2021) NCCL (Aug 2019)
Cayman Islands	UPDATED Netting Opinion (Nov 2020) Netting Opinion (Dec 2013) *UPDATED* Collateral Opinion (Nov 2020) Collateral Opinion (Feb 2013)	NCCL (Feb 2024) NCCL (Feb 2023) NCCL (Dec 2021) NCCL (March 2019)
China Add-on subscription	New Netting Opinion (Dec 2022) New Collateral Opinion (Dec 2022)	NCCL (Jan 2024)
Cyprus	*UPDATED* Netting Opinion (Jan 2019) Netting Opinion (Oct 2014) UPDATED Collateral Opinion (Jan 2019) Collateral Opinion (March 2013)	NCCL (Aug 2023) NCCL (Aug 2022) NCCL (Aug 2021) NCCL (July 2020)
Czech Republic Add-on subscription	Netting Opinion (May 2020)	NCCL (Nov 2023) NCCL (Aug 2022) NCCL (July 2021)
Denmark	UPDATED Netting Opinion (Jan 2024) Blackline (2023 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATEDCollateral Opinion (Jan 2024) Blackline (2023 vs 2018) Collateral Opinion (March 2018) Collateral Opinion (Jan 2013)	NCCL (Sept 2022) NCCL (Aug 2021) NCCL (July 2020) NCCL (June 2019)
England & Wales	UPDATED Netting Opinion (April 2021) Netting Opinion (March 2018 ) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (April 2021) Collateral Opinion (March 2018) Collateral Opinion (Feb 2013) *NEW* Indirect Clearing Supplemental Netting Opinion – England & Wales (April 2020) NEW Brexit Report Netting Opinion (Oct 2020) *NEW* Brexit Report Collateral Opinion (Oct 2020) *NEW* Brexit Report Indirect Clearing Opinion (Oct 2020)	NCCL (June 2023) NCCL (April 2022) BD (Sept 2020) NCCL (Oct 2019)	NEW ICE Clear Europe CCP Opinion (April 2020) LCH.Clearnet Limited CCP Opinion (Sept 2018) LME Clear (Jan 2018) ICE Clear Europe Questionnaire (Jan 2017) ICE Clear Europe - Clearing Member Agreement (Nov 2016) ICE Clear Europe CCP Opinion (Nov 2016) NEW Brexit Report CCP Opinions (Oct 2020)	NCCL - LCH Ltd (Jan 2023) NCCL (Dec 2021) NCCL (Nov 2020) NCCL - LME Clear (Nov 2022) NCCL (Sept 2021) NCCL (Sept 2020) NCCL (Aug 2019) BD (June 2017) NCCL - ICE Clear Europe (Sept 2022) NCCL (May 2021) NCCL (April 2019) NCCL - LCH Clear (Oct 2019) NCCL (May 2018)
Estonia Add-on subscription	Netting Opinion (Sept 2020)	NCCL (Dec 2023) NCCL (Dec 2022) NCCL (Nov 2021)
Finland	UPDATED Netting Opinion (July 2022) Blackline (2022 vs 2018) Netting Opinion (March 2018 ) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (July 2022) Blackline (2022 vs 2018) Collateral Opinion (March 2018) Collateral Opinion (April 2013)	NCCL (Sept 2023) BD (July 2021) NCCL (June 2020) NCCL (May 2019)
France	UPDATED Netting Opinion (Dec 2021) Blackline (2021 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (Dec 2021) Collateral Opinion (March 2018) Collateral Opinion (Feb 2013) *NEW* Indirect Clearing Supplemental Netting Opinion – France (April 2020)	NCCL (March 2023) BD (Dec 2020) NCCL (Oct 2019)	UPDATED LCH SA CCP Opinion - France (March 2023) Blackline (2023 vs 2021) LCH SA CCP Opinion - France (April 2021) LCH SA CCP Questionnaire -France (March 2017) LCH SA CCP Opinion - France (Feb 2017)	BD - LCH SA (Oct 2022) BD - LCH SA (Aug 2020) NCCL - LCH SA (March 2019)
Germany	UPDATED Netting Opinion (August 2023) Blackline (2023 vs 2018) Netting Opinion (April 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (Aug 2023) Blackline (2023 vs 2018) Collateral Opinion (April 2018) Collateral Opinion (Feb 2013) NEW Indirect Clearing Supplemental Netting Opinion – Germany (May 2020)	NCCL (Jan 2022) NCCL (Dec 2020) NCCL (Oct 2019)	Updated Eurex Clearing AG CCP Opinion (May 2023) Eurex Clearing AG CCP Opinion (May 2021) Eurex Clearing AG CCP Opinion (Aug 2018) ECC CCP Opinion (May 2023) Blackline (2023 vs 2020) ECC CCP Opinion (Oct 2020) ECC (2014)	BD (Eurex Clearing AG) (Sept 2022) NCCL - ECC (Dec 2021) NCCL - Eurex (Nov 2020) NCCL - Eurex (Oct 2019)
Gibraltar Add-on subscription	Netting Opinion (June 2020)	NCCL (Nov 2023) NCCL (Aug 2022) NCCL (July 2021)
Greece	*UPDATED* Netting Opinion (Sept 2023) Blackline (2023 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) *UPDATED* Collateral Opinion (Sept 2023) Blackline (2023 vs 2018) Collateral Opinion (March 2018) Collateral Opinion (Jan 2013)	NCCL (Jan 2022) NCCL (July 2020) NCCL (June 2019)
Guernsey	UPDATED Netting Opinion (Nov 2020) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (Nov 2020) Collateral Opinion (April 2013)	NCCL (March 2024) NCCL (Feb 2023) NCCL (Dec 2021) NCCL (March 2019)
Hong Kong	*UPDATED* Netting Opinion (July 2022) Blackline (2022 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (July 2022) Blackline (2022 vs 2018) Collateral Opinion (March 2018) Collateral Opinion (Feb 2013)	NCCL (Aug 2023) BD (Nov 2021) NCCL (Aug 2020) NCCL (June 2019)	SEOCH CCP Opinion (Feb 2020) HKCC CCP Opinion (Feb 2020) HKSCC CCP Opinion (Feb 2020)	NCCL - SEOCH (June 2023) NCCL - SEOCH (May 2022) NCCL - SEOCH (April 2021) NCCL - HKCC (June 2023) NCCL -HKCC (May 2022) NCCL - HKCC (April 2021) NCCL - HKSCC (June 2023) NCCL - HKSCC (May 2022) NCCL - HKSCC (April 2021)
Hungary Add-on subscription	UPDATED Netting Opinion (July 2023) Blackline (2023 vs 2021) Netting Opinion (April 2021)	BD (May 2022)
India	UPDATED Netting Opinion (July 2021) Netting Opinion (Sept 2019) Netting Opinion (Dec 2014) UPDATED Collateral Opinion (July 2021) Collateral Opinion (Sept 2019) Collateral Opinion (Feb 2013)	NCCL (Dec 2023) NCCL (Sept 2022) BD (Nov 2020)
Indonesia Add-on subscription	Netting Opinion (July 2020)	NCCL (Sept 2023) NCCL (Aug 2022) NCCL (Aug 2021)
Ireland	UPDATED Netting Opinion (July 2021) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATEDCollateral Opinion (Feb. 2024) Blackline (2024 vs 2018) Collateral Opinion (March 2018) Collateral Opinion (May 2013)	NCCL (Dec 2023) NCCL (Oct 2022) NCCL (April 2021) NCCL (July 2019)
Israel	*UPDATED* Netting Opinion (Oct 2020) Netting Opinion (Dec 2013) *UPDATED* Collateral Opinion (Oct 2020) Collateral Opinion (Feb 2013)	NCCL (Mar 2024) NCCL (Feb 2023) NCCL (Dec 2021) NCCL (Mar 2019)
Italy	UPDATED Netting Opinion (Aug 2023) Blackline (2023 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (Aug 2023) Blackline (2023 vs 2018) Collateral Opinion (March 2018) Collateral Opinion (Feb 2013)	BD (Nov 2022) NCCL (Sept 2021) NCCL (July 2020) NCCL (July 2019)	UPDATED Euronext Clearing (May 2023) Cassa di Compensazione e Garanzia CCP Opinion (April 2016)	BD - CC&G (Oct 2022) NCCL(July 2021) NCCL (June 2020)
Japan	UPDATED Netting Opinion (December 2023) Blackline (2023 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (March 2018) Collateral Opinion (Jan 2013)	NCCL (July 2022) NCCL (July 2021) NCCL (June 2020) NCCL (June 2019)	*UPDATED* Japan Securities Clearing Corporation CCP Opinion (May 2020) Japan Securities Clearing Corporation CCP Opinion (Feb 2013)
Jersey	*UPDATED* Netting Opinion (July 2020) Netting Opinion (Dec 2013) *UPDATED* Collateral Opinion (July 2020) Collateral Opinion (Jan 2013)	NCCL (Aug 2023) NCCL (Aug 2022) NCCL (Aug 2021) NCCL (March 2019)
Latvia Add-on subscription	UPDATED Netting Opinion (June 2023) Netting Opinion (Jan 2021)	BD (Feb 2022)
Liechtenstein Add-on subscription	UPDATED Netting Opinion (July 2022) Blackline (2022 vs 2020) Netting Opinion (June 2020) *UPDATED* Collateral Opinion (July 2022) Blackline (2022 vs 2020) Collateral Opinion (June 2020)	NCCL (Sept 2023) BD (July 2021)
Luxembourg	*UPDATED* Netting Opinion (March 2018) Netting Opinion (Dec 2013) *UPDATED* Collateral Opinion (March 2018) Collateral Opinion (March 2013)	NCCL (June 2023) NCCL (Dec 2021) NCCL (Sept 2020) NCCL (Aug 2019)
Malaysia	UPDATED Netting Opinion (Nov 2019) Netting Opinion (Dec 2014) UPDATED Collateral Opinion (Nov 2019) Collateral Opinion (Jan 2013)	NCCL ( April 2023) NCCL (March 2022) NCCL (Jan 2021)
Malta	UPDATED Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (March 2018 ) Collateral Opinion (Jan 2013)	NCCL (March 2023) NCCL (Dec 2021) NCCL (Nov 2020) NCCL (Oct 2019)
Mauritius Add-on subscription	Netting Opinion (Sept 2020)	NCCL (Nov 2023) NCCL (Nov 2022) NCCL (Oct 2021)
Mexico	Netting Opinion (March 2021)	NCCL (April 2023) NCCL (March 2022)	NEWAsigna Compensacion y Liquidacio CCP Opinion (Feb 2024) Blackline (2024 vs. 2019) Asigna Compensacion y Liquidacio CCP Opinion (Sept 2019)	NCCL (March 2023) NCCL (Dec 2021) NCCL (Oct 2020)
Monaco Add-on subscription	UPDATED Netting Opinion (June 2023) Netting Opinion (Sept 2020)	BD (Nov 2022) NCCL (Oct 2021)
Netherlands	UPDATED Netting Opinion (January 2024) Blackline (2024 vs 2022) Netting Opinion (March 2022) Blackline (2022 vs 2018) Netting Opinion (Jan 2018) Netting Opinion (April 2014) *UPDATED* Collateral Opinion (January 2024) Blackline (2024 vs 2022) Collateral Opinion (March 2022) Blackline (2022 vs 2018) Collateral Opinion (Jan 2018) Collateral Opinion (Feb 2013)	BD (April 2023) BD (Sept 2021) NCCL (Aug 2020) NCCL (Aug 2019)
New Zealand Add-on subscription	Netting Opinion (April 2020)	NCCL (June 2023) NCCL (June 2022) NCCL (May 2021)
Norway	UPDATED Netting Opinion (July 2020) Netting Opinion (Dec 2013) *UPDATED* Collateral Opinion (July 2020) Collateral Opinion (April 2014)	NCCL (Oct 2023) NCCL (Oct 2022) NCCL (Sept 2021) BD (Dec 2018)
Peru Add-on subscription	Netting Opinion (July 2020)	NCCL (Sept 2023) NCCL (July 2022) NCCL (July 2021)
Poland	UPDATED Netting Opinion (May 2019) Netting Opinion (March 2015) UPDATED Collateral Opinion (May 2019) Collateral Opinion (Feb 2013)	NCCL (Feb 2023) NCCL (Dec 2021) NCCL (July 2020)
Portugal	*UPDATED* Netting Opinion (Jan. 2024) Blackline (2024 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATEDCollateral Opinion (Jan. 2024) Blackline (2024 vs 2018) Collateral Opinion (March 2018) Collateral Opinion (Jan 2013)	NCCL (Sept 2022) NCCL (Aug 2021) NCCL (Aug 2020) NCCL (Aug 2019)
Russia Add-on subscription	Netting Opinion (Dec 2020)
Scotland	UPDATED Netting Opinion (Nov 2021) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (Nov 2021) Collateral Opinion (March 2018) Collateral Opinion (Feb 2013)	NCCL (March 2024) NCCL (Dec 2022) BD (Oct 2020) NCCL (Aug 2019)
Singapore	UPDATED Netting Opinion (Nov 2020) Blackline (2020 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) VCC Top-up Netting Opinion UPDATED Collateral Opinion (July 2021) Blackline (2021 vs 2019) Collateral Opinion (March 2019) Collateral Opinion (Feb 2013)	NCCL (April 2023) NCCL (March 2022) NCCL (Dec 2015)	UPDATED Singapore Exchange Derivatives Clearing Ltd CCP Opinion (June 2021) Singapore Exchange Derivatives Clearing Ltd CCP Opinion (March 2019) Singapore Exchange Derivatives Clearing Ltd CCP Opinion (May 2013)	NCCL (December 2023) NCCL (Nov 2022) BD (Jan 2021) BD (May 2017)
Slovenia Add-on subscription	UPDATED Netting Opinion (July 2022) Blackline (2022 vs 2020) Netting Opinion (Oct 2020)	NCCL (Sept 2023) BD (Nov 2021)
South Africa	UPDATED Netting Opinion (June 2019) Netting Opinion (Dec 2014) UPDATED Collateral Opinion (June 2019) Collateral Opinion (Jan 2013)	NCCL (Oct 2023) NCCL (July 2022) NCCL (July 2021) NCCL (July 2020)
South Korea	*UPDATED* Netting Opinion (July 2022) Blackline (2022 vs 2019) Netting Opinion (Sept 2019) Netting Opinion (Dec 2014) *UPDATED* Collateral Opinion (July 2022) Blackline (2022 vs 2019) Collateral Opinion (Sept 2019) Collateral Opinion (Jan 2013)	NCCL (Sept 2023) BD (Nov 2021) NCCL (Oct 2020)
Spain	*UPDATED* Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (March 2018) Collateral Opinion (Jan 2013)	NCCL (Jan 2023) NCCL (Nov 2021) NCCL (Aug 2020)	UPDATED BME Clearing CCP Opinion (Feb. 2024) Blackline (2024 vs 2018) BME Clearing CCP Opinion (Dec 2018)	BD - BME Clearing (Oct 2022) NCCL (April 2021) NCCL (Feb 2020)
Sweden	UPDATED Netting Opinion (December 2023) Blackline (2023 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (December 2023) Blackline (2023 vs 2018) Collateral Opinion (March 2018) Collateral Opinion (April 2013)	NCCL (Nov 2022) NCCL (Oct 2021) NCCL (July 2020) NCCL (May 2019)	NASDAQ OMX Stockholm AB CCP Opinion (Jan 2023) NASDAQ OMX Stockholm AB CCP Opinion (Dec 2013)	NCCL Nasdaq (March 2024) NCCL - Nasdaq (August 2021) NCCL (June 2020) NCCL (March 2019) NCCL (Aug 2017)
Switzerland	*UPDATED* Netting Opinion (January 2024) Blackline (2024 vs 2018) Netting Opinion (March 2018) Netting Opinion (Dec 2013) UPDATED Collateral Opinion (January 2024) Blackline (2024 vs 2018) Collateral Opinion (March 2018) Collateral Opinion (Jan 2013) NEW Indirect Clearing Supplemental Netting Opinion – Switzerland (April 2020)	BD (March 2023) NCCL (Dec 2021) NCCL (Sept 2020) NCCL (Aug 2019)
Taiwan	Netting Opinion (March 2020) Collateral Opinion (March 2020)	NCCL (May 2023) NCCL (May 2022) NCCL (April 2021)
Thailand	Netting Opinion (June 2020)	NCCL (Aug 2023) NCCL (July 2022) NCCL (July 2021)
Turkey	*UPDATED* Netting Opinion (Sept 2020) Netting Opinion (Dec 2013) *UPDATED* Collateral Opinion (Sept 2020) Collateral Opinion (Jan 2013)	NCCL (Feb 2024) NCCL (Feb 2023) NCCL (Dec 2021) BD (March 2019)
United Arab Emirates – Dubai (DIFC) Add-on subscription	*NEW* Netting Opinion (Nov 2021)	NCCL (Jan 2024) NCCL (Dec 2022)
United Arab Emirates – Federal	*UPDATED* Netting Opinion (June 2021) Blackline	NCCL (Oct 2023) NCCL (July 2022)
United States of America	NEW Netting Opinion (Sept 2020) Netting Opinion (Dec 2013) NEW Collateral Opinion (Sept 2020) Collateral Opinion (Sep 2013)	NCCL (March 2024) NCCL (Dec 2022) NCCL (Nov 2021) NCCL (March 2019)