ISDA, ICMA, ISLA To Collaborate On "Common Domain Model"

ISDA, the International Capital Market Association ("ICMA") and the International Securities Lending Association ("ISLA") signed a memorandum of understanding ("MOU") intended to enhance collaboration for the development of the "Common Domain Model" ("CDM"). The CDM is intended to facilitate a single, universal digital depiction of trade events and actions over the course of the lifecycle of financial products.

ISDA stated that the MOU sets up a framework for increased collaboration among the three associations, creating a path for cooperative governance and putting in place arrangements with respect to the open-source parts of the CDM and related intellectual property for market-specific segments.