ISDA Calls For Standardization Of Derivatives Market Data, Documentation And Processing

An ISDA whitepaper titled "The Future of Derivatives Processing and Market Infrastructure" outlined a set of principles to standardize derivatives market data, documentation and processing. The principles are a response to the complexity in the current derivatives ecosystem resulting from the need to meet a number of different and varying deadlines set by regulators across the globe.

The whitepaper includes the following arguments:

• Data: "a robust, granular, multi-use product identifier with strong governance based on an open-source infrastructure would remove many systemic inefficiencies and further promote transparency."
• Documentation: standardization and digitization of the "suite of existing ISDA documentation" would promote efficient processing.