ISDA Documentation

ISDA standard OTC contractual documentation.

Definition

Master Agreement defines common terms (events of default, termination events, payment netting). Schedule customizes per counterparty. CSA frames collateral. Confirmations detail each transaction (rate, dates, notional). ISDA Definitions by asset class: 2006 ISDA Definitions (rates), 2014 ISDA Credit Derivatives Definitions, 2021 ISDA Interest Rate Derivatives Definitions.

Origin

ISDA, ISDA Master Agreement 1985 then 1992 and 2002 (current). 2021 IRD Definitions progressively replace 2006.

Usage

Contractual framework used for 95%+ of global OTC derivative trades. Digitalization via ISDA CDM Rosetta.

Related terms

• ISDA — organisation parent.
• ISDA Master Agreement — document phare.
• CSA — annexe collateral.