The paper provides guidance on bringing the benefits
of distributed ledger technology to the ISDA documentation
architecture.
The International Swaps and Derivatives Association
("ISDA") has published the first in a series of legal
guidelines for smart derivatives contracts. These guidelines aim to
support developers who are applying distributed ledger technology
solutions to derivatives transactions. It explains the core
principles of ISDA documentation to raise awareness of the
important legal terms that should be maintained when a technology
solution is applied to derivatives trading.
The intention of this paper is not to specify or recommend any
particular approach or to address any particular technological
application or project, but rather to provide high-level guidance
on the legal documentation and framework that currently governs
derivatives trading. It is designed to assist developers with
addressing the challenges of bringing the benefits of
