The Association's more than 800 member institutions from 55 countries are classified into three categories according to the guidelines contained in the Association's by-laws. These categories are primary (dealer firms), associate (service providers) and subscriber (end-users).

Only ISDA members are entitled to receive the Association's legal opinions on the enforceability of the netting provisions of the 1992 and 2002 ISDA Master Agreements, which enable institutions to reduce credit risk and consequently capital requirements in jurisdictions subject to BIS capital regulations. ISDA has obtained netting opinions for 52 jurisdictions. Each year, ISDA commissions additional netting opinions for its members. In addition, ISDA obtains collateral opinions for its members. At present, ISDA has obtained 39 collateral opinions and these opinions are updated annually for members.