While unliquidated derivatives continue to be governed by an International Clearing and Exchange Association (ISDA) framework contract and a credit assistance annex, cleared derivatives require other documents, such as: (i) netting agreements, (ii) netting agreements, and (iii) collateral conversion agreements. The ISDA/FIA Cleared Cleared Derivatives Execution Agreement 2017 with non-US law is a model for market participants when negotiating execution agreements with counterparties on swaps that will be cleared. The document aims to facilitate access to derivatives transactions and clearing of such transactions with one or more CCPs outside the United States and can be used in conjunction with the ISDA/AIF client clearing addendum. This document has been updated to reflect the new timing under MIFID II for the transmission of information on cleared derivative transactions between counterparties on a bilateral basis. A blackline comparison with the 2016 version is published next to this document. The Cleared Derivatives Execution Agreement is a model for operators to use cleared swaps when negotiating execution agreements with counterparties on swaps that will be cleared through the United States. . . .