On October 28th, the International Swaps and Derivatives Association, Inc., the British Bankers Association, the Investment Management Association, and Markit announced the launch of the EMIR Counterparty Classification Tool on ISDA Amend, the online service from ISDA and Markit that facilitates compliance with certain European Market Infrastructure Regulation ("EMIR") and other regulatory requirements. The EMIR Counterparty Classification Tool provides an online system which will allow businesses to classify themselves according to the EMIR taxonomy by answering a series of questions. ISDA Press Release.