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The paper is dedicated to a system of matrix nonlinear evolution equationsrelated to a Hermitian symmetric space of the type $\mathbf{A.III}$. The systemunder consideration extends the $1+1$ dimensional Heisenberg ferromagnetequation in the sense that its Lax pair has a form rather similar to the pairof the original Heisenberg ferromagnet model. We shall present here certainlocal and nonlocal reductions. A local integrable deformation and some of itsreductions will be discussed too.

Multicomponent Nonlinear Evolution Equations of the Heisenberg Ferromagnet Type. Local versus Nonlocal Reductions