The International Swaps and Derivatives Association (ISDA) has published a survey on document negotiation which reveals that the average time taken to negotiate key derivatives documents has not improved since 2006. While some firms use digital automation tools, the survey highlights that many still rely on manual processes for data capture and documentation. ISDA urges firms to realise efficiencies and savings by embracing digital platforms like ISDA Create which can reduce negotiation times, capture contractual data and free up resources.

The International Swaps and Derivatives Association (ISDA) has updated its list of frequently asked questions (FAQs) on the use of the 2022 Verified Carbon Credit Transactions Definitions (VCC Definitions). ISDA published Version 1 of the 2022 VCC Definitions in December 2022 and subsequently updated it by the publication of Version 2 in February 2024. This version of the FAQs includes updates related to Version 2 of the 2022 ISDA VCC Definitions.

The International Swaps and Derivatives Association (ISDA) has responded to the Bank of England’s (BoE) discussion paper on gilt market resilience. It urges the BoE to consider existing capital and liquidity requirements for repo transactions alongside monetary policy and financial stability aims before making changes that could disrupt the gilt repo market. ISDA warns that introducing mandatory minimum haircuts or expanding clearing requirements could increase funding costs, reduce liquidity and weaken demand for gilts. It instead points to risk-management practices consistent with Basel Committee guidelines for counterparty credit risk management and US Treasury market best practices as suitable reference points.

Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (EU EMIR) was adopted on 4 July 2012 and entered into force on 16 August 2012. Assimilated Regulation (EU) 648/2012 (UK EMIR) applies in the UK. Compliance with EU EMIR and/or UK EMIR may require parties to update their processes and documents. To help with this, the International Swaps and Derivatives Association (ISDA) has so far published four protocols dealing with certain requirements. In June 2019, Regulation (EU) 2019/834, commonly referred to as EMIR Refit, entered into force, with the new requirements applying from 29 April 2024 for EU entities and 30 September 2024 for UK entities. EMIR Refit updates reporting and data standards, delegated reporting rules and the clearing threshold regime. Under the revised rules, a non-financial counterparty (NFC) exceeding the threshold in one asset class must clear only derivatives in that class but must still exchange collateral for all uncleared OTC derivatives.

The International Swaps and Derivatives Association (ISDA), the Association for Financial Markets in Europe (AFME), and the International Capital Market Association (ICMA) published a paper on 10 October 2025, addressing the practical implications of the systematic internaliser regime’s discontinuation for derivatives, bonds, and other non-equity financial instruments in the EU, with a similar discontinuation expected for the UK. ISDA, AFME and ICMA state that while the impact is expected to be minimal in both jurisdictions, it may not be fully understood by all market participants.

The International Swaps and Derivatives Association (ISDA), the Association for Financial Markets in Europe (AFME) and the Institute of International Finance (IIF) has submitted a joint response to the European Commission’s targeted consultation on the market risk prudential framework. They emphasise that the framework should be risk-appropriate and consistent across major jurisdictions to avoid competitive distortions and misalignment in both timing and content. It notes that the majority of banks favour delaying implementation of the Fundamental Review of the Trading Book (FRTB) and the trading book/banking book boundary due to operational challenges, while preferring to proceed with the 1 January 2027 transition despite the complexity of running it alongside Basel 2.5. The associations support the proposed capital neutrality multiplier but caution that it is a crude, non-risk-sensitive tool, noting a preference for a bank-specific multiplier.

The International Swaps and Derivatives Association (ISDA), the European Fund and Asset Management Association (EFAMA), and the Association for Financial Markets in Europe (AFME) submitted a joint response on 10 September 2025 to the European Commission’s call for evidence on reducing administrative burdens in environmental legislation. Their submission advocates for regulatory coherence with existing sustainable finance frameworks, the continued exemption of financial products from the Green Claims Directive, and clarification that due diligence under the Deforestation Regulation should target lead operators rather than downstream financial institutions.

The International Swaps and Derivatives Association (ISDA), Futures Industry Association (FIA), Global Financial Markets Association (GFMA), Commodity Markets Council (CMC) and China Mite Capital Exchange (CMCE) (the Associations) have responded to the International Organization of Securities Commission (IOSCO)’s consultation report on good practices for over-the-counter (OTC) commodity derivatives markets, supporting objectives of safeguarding market integrity, orderly trading conditions and resilience, while opposing new or duplicative reporting requirements. The Associations emphasise more effective use of existing OTC derivatives data, enhanced cross-border data sharing and strengthened cooperation between authorities, warning that additional reporting obligations, including mandatory OTC position reporting, could create significant burden, duplication and barriers to entry. They also highlight concerns around regulatory overreach, data confidentiality, economically equivalent OTC (EEOTC) definition changes and expansion of the financial regulatory perimeter to physically settled commodity forwards, advocating a proportionate, risk-based approach based on existing frameworks.

The International Swaps and Derivatives Association (ISDA), together with the Global Financial Markets Association (GFMA) and the Futures Industry Association (FIA) have jointly submitted their response to the European Commission (EC)’s call for feedback on the review of the scope and regime for non-EU benchmarks. The associations appreciate the EC’s acknowledgement of issues arising from the current drafting of the Benchmark Regulation (BMR). The associations also support the aim of establishing a sustainable third-country regime and believe that the proposal will result in a more proportionate regime for users and administrators of benchmarks.

This Practice Note contains a summary of new and updated documents published by the International Swaps and Derivatives Association (ISDA). It is updated and reviewed regularly and covers documents published since January 2018. For ISDA news prior to that date going back to January 2015, see Practice Note: ISDA—news on documentation [Archived]. Information in this Practice Note is also included in relevant Practice Notes in Banking & Finance. All of the ISDA updates referred to in this Practice Note were originally published on the ISDA website (subscription required for full access). Commentary and related documents are provided by Banking & Finance. 2026 Date of update/announcement from ISDA ISDA news 1 October 2026 ISDA launches digital Emissions Transactions DefinitionsWhy? ISDA has launched the 2026 ISDA Emissions Transactions Definitions, introducing a natively digital version of its documentation for emissions allowance transactions. The definitions provide standardised documentation for physically settled over-the-counter derivatives transactions referencing emissions allowances under mandatory emissions trading systems (ETS) in the EU, UK and US. They comprise a fully digital, versionable

This Practice Note is an archive of news and updated document published by the International Swaps and Derivatives Association (ISDA). It covers ISDA updates from January 2015 to December 2017. For the latest ISDA developments since January 2018, see Practice Note: ISDA—latest news on documentation All of the ISDA updates referred to in this Practice Note were originally published on the ISDA website (subscription required for full access). Commentary and related documents are provided by Banking & Finance. 2017 Date of update/announcement from ISDA ISDA news 15 December 2017 ISDA webinar on systematic internaliser regimeWhy? ISDA published a webinar ‘Are you ready for the Systematic Internaliser Regime?’, which explores some of the issues related to the MIFID II systematic internaliser regime.For more information in systematic internalisers see Practice Note: Systematic internalisers. 8 December 2017 Credit Derivatives Physical Settlement Matrix – 2014 and 2003 ConfirmationsWhy? ISDA published the:—2014 Definitions Confirmation CDS Matrix v24—2014 Definitions Matrix Confirmations, and—2003 Definitions Matrix Confirmations 8 December 2017 ISDA publishes updated letter confirms terms of credit

In the context of announcements, the International Securities Identification Number for each relevant security. See ISIN database.