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ARTICLE · 15 MARCH 2021

Digital Derivatives – ISDA Create

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Who wants to see digitalisation of legal contracts? Well certainly the derivatives contingent of the financial services industry which is battling increasingly complex standard documentation..

United StatesFinance and Banking
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Who wants to see digitalisation of legal contracts? Well certainly the derivatives contingent of the financial services industry which is battling increasingly complex standard documentation, streams of regulatory re-papering projects, and the continuous need to put in place age-old favourites such as the ISDA Master Agreement. Let's focus on the ISDA Master Agreement, the hugely successful framework documents underpinning most OTC derivatives trading.

The first version of the ISDA Master Agreement came out in 1987, with updates following in 1992 and 2002. It has a standard body of terms, which are amended in a schedule, following negotiations. Thousands of these negotiations take place every year. They require specialised legal negotiation teams, often split across continents, with regular outsourcing to law firms and alternative legal services providers.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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