The International Swaps and Derivatives Association (ISDA) has published results of a survey it carried out to understand members’ views on the current stage of development of the International Accounting Standards Board’s dynamic risk management (DRM) model. The results revealed a concentration of respondents in Europe, consistent with the widespread use of macro hedging approaches across this jurisdiction. A material portion of the respondents are still developing their thinking and are therefore moderately familiar with such consequences.

The International Swaps and Derivatives Association (ISDA) has released its perspective on the post-trade transparency rules implemented by the Markets in Financial Instruments Regulation (MIFIR) which came into effect in March 2024; and specifically encompasses the revised regulations surrounding interest rate derivatives, index credit default swaps, and securitised derivatives.

The International Swaps and Derivatives Association (ISDA) has published a speech by its chief executive, Scott O'Malia, addressing the challenges and opportunities of digital transformation in the financial sector. The speech highlights the impact of technology on customer-facing solutions and the need for digitisation in back-end processes to improve efficiency and reduce risk.

The International Swaps and Derivatives Association (ISDA) has released a statement in response to the Bank of Israel's announcement on the cessation of all TELBOR tenors after 30 June 2025. After this date, fallbacks (to the adjusted risk-free rate plus spread) will automatically apply for outstanding TELBOR derivatives contracts that incorporate version 7.0 onwards of the 2021 ISDA Interest Rate Derivatives Definitions or in respect of which both parties have adhered to the November 2022 Benchmarks Module to the ISDA 2021 Fallbacks Protocol. For other outstanding TELBOR derivatives contract, the generic fallback provisions will apply, where the parties will seek to apply the first alternative continuation fallback pursuant to which a Continuation Amendment can be made.

The International Swaps and Derivatives Association (ISDA) has published a whitepaper examining how generative artificial intelligence can extract and digitise credit support annex (CSA) clauses. The study evaluated eight large language models (LLMs) across 60 CSA documents and found that when provided with CSA-specific information, the models achieved accuracy levels of over 90%. In addition, ISDA partnered with Arizona State University to develop a multi-agent framework for CSA extraction. The research focused on five key clause types: base currency, eligible currency, minimum transfer amount, threshold, and rounding provisions.

The International Swaps and Derivatives Association (ISDA) has published high level guidance for memorandum of law examining the validity and enforceability of collateral arrangements using the ISDA model provisions for tokenized collateral. The guidance aims to inform how counsel may approach a legal opinion on the enforceability of collateral arrangements involving tokenized collateral. It outlines a basic taxonomy of common tokenization structures and provides a non-exhaustive list of key issues.

The International Swaps and Derivatives Association (ISDA) has published SIMM® Methodology Version 2.8+2512 following its 2026 primary calibration exercise. The updated methodology reflects a full recalibration of the model using historical data up to 31 December 2025. The new version takes effect on 11 July 2026. SIMM users should apply it when calculating initial margin from close of business on 10 July 2026, with the first exchange of initial margin using the updated version taking place on 13 July 2026. ISDA notes that the methodology remains a key component of the SIMM Governance Framework, which users are expected to follow.

The International Swaps and Derivatives Association (ISDA) has published its SwapsInfo quarterly review which provides an analysis of key trends for the first half of 2024 (H1 2024) and second quarter of 2024 (Q2 of 2024). The report shows that interest rate derivatives (IRD) traded notional and trade count increased in H1 2024, while index credit derivatives trading activity declined over the same period.

The International Swaps and Derivatives Association (ISDA) has written to the European Commission (EC) and the European Securities and Markets Authority (ESMA) to highlight several technical issues arising from the interaction between the delegated regulation (EU) 2025/1003 on identifying reference data to be used for over-the-counter (OTC) derivatives for the purposes of public transparency and the draft regulatory technical standards for derivatives transparency (RTS 2) and from areas of the draft RTS 2 that lack clarity.

The International Swaps and Derivatives Association (ISDA) has released a comprehensive analysis detailing the credit default swap (CDS) market dynamics from 2019 through the first half of 2024 which illustrated that the total CDS market activity, propelled by index CDS trading, peaked at US$38.7trn in 2022 meanwhile single-name CDS activity hit its climax during the first half of 2023 (particularly in the banking sector). Despite remaining above 2022 levels, single-name CDS activity declined in the first half of 2024, demonstrating a sustained demand for targeted credit risk protection.

The International Swaps and Derivatives Association (ISDA) has released the revised version 3.0 of Sub-Annex A to the 2005 ISDA Commodity Definitions. Sub-Annex A provides a list of commodity reference prices and associated terms for use in over-the-counter derivatives contracts, covering asset classes such as agricultural products, energy, freight, paper, metals and composite commodity indices. This latest version specifically updates the agricultural products section. Earlier versions were published in 2005 and 2006.

The International Swaps and Derivatives Association (ISDA) has submitted a response to the European Securities and Markets Authority's (ESMA) consultation on the review of transaction data reporting under the Markets in Financial Instruments Regulation (MIFIR). ISDA endorsed ESMA's proposed changes aimed at enhancing unity with similar regimes and bolstering reporting efficiency. However, the association raised several areas of concern, including: the introduction of a transaction identification code (TIC); issues surrounding non-European Economic Area trading venue TICs, and; challenges associated with new identifiers such as the digital token identifier.