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ARTICLE · 24 JANUARY 2022

ISDA CEO Urges Standardization For Digital Asset Derivative Contracts

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ISDA CEO Scott O'Malia described ISDA's ongoing effort to develop common contractual standards to support the digital asset derivatives market.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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ISDA CEO Scott O'Malia described ISDA's ongoing effort to develop common contractual standards to support the digital asset derivatives market.

In comments published in ISDA's newsletter, derivatiViews, Mr. O'Malia emphasized the need for standardized derivatives documentation tailored to reflect the unique features of this asset class.

Mr. O'Malia stated that institutions trading digital asset derivatives are currently using amended versions of existing ISDA templates, or are using their own bespoke documentation. He warned that this lack of common contractual standards may mean that certain unique events that can occur in the digital asset market are not directly covered by the documentation used for derivatives linked to those assets. Mr. O'Malia cautioned that the lack of common contractual standards may result in failure by market participants to address the distinctive events that can occur in the digital asset market, such as certain market disruption

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