This section catalogues ISDA’s work across the energy, commodities and developing products space: documentation, public policy, market structure, market practices, research and other areas.
Click here to visit an archive of ECDPC documents from March 2011 and earlier.
Also, see the Infrastructure Management page on Commodity Derivatives.
Statements and Guidance Notes
- ISDA Platts TSI Iron Ore (62% FE Fines) Contracts Best Practice Statement and Bilateral Amendment Agreement. Statement of best practice and bilateral form of Amendment Agreement in the interest of promoting orderly valuation and settlement of relevant financially settled derivative transactions in light of Platts’ decision to change the specifications and delivery port of its TSI Iron Ore CFR China (62% FE Fines) Contracts. Published December 4, 2017
- ISDA Platts FOB Singapore Gasoil assessment Best Practice Statement and Bilateral Amendment Agreement. Statement of best practice and bilateral form of Amendment Agreement regarding Platts’ determination to change the specifications of its FOB Singapore Gasoil assessment. Published December 4, 2017
- ISDA Platts TSI Iron Ore Fines 62% Fe price series and Platts IODEX Best Practice Statement and Bilateral Amendment Agreement. Statement of best practice and bilateral form of Amendment Agreement regarding merger of Platts TSI Iron Ore Fines 62% Fe price series and Platts IODEX. Published December 4, 2017
- ISDA Platts USGC Fuel Oil Best Practice Statement and Bilateral Amendment AgreementStatement of best practice and bilateral form of Amendment Agreement in the interest of promoting orderly valuation and settlement of relevant financially settled derivative transactions in light of Platts’ decision to change the specifications of its US Gulf Coast 3% Sulphur physical residual fuel oil assessment. Published December 10, 2015
- Revised ISDA European Gas Annex (NBP Only)(Version1: 10 September 2015) and ISDA European Gas Annex NBP 97 to NBP 15 Change Letter (Version 1: 10 September 2015)
- Explanatory Statement and Amendment Agreement for Certain Gold Transactions addresses the winding down by The London Gold Market Fixing Limited of the administration of the London Gold Fix. Published February 17, 2015
- Explanatory Statement and bilateral Amendment Agreement for PLATINUM-FIX and PALLADIUM-FIX Discontinuance.
Explanatory statement and Bilateral form of Amendment Agreement for certain platinum and / or palladium transactions affected by the London Platinum and Palladium Fixing Company Limited’s discontinuation of the Platinum Fix and Palladium Fix. Published November 26, 2014 - Explanatory Statement and bilateral Amendment Agreement for SILVER-FIX Discontinuance.
Explanatory statement and Bilateral form of Amendment Agreement for Certain silver transactions affected by the London Silver Market Fixing Limited’s discontinuation of the London Silver Fix. Published July 29, 2014 - ISDA ICE LOW SULPHUR GASOIL BEST PRACTICE STATEMENT
This statement of best practice is in the interest of promoting orderly valuation and settlement of positions by market participants with respect to the determination made by IntercontinentalExchange (“ICE”) in its 29 April 2014 circular (14/030) regarding the existing ICE Gasoil Futures Contract with 1,000ppm sulphur content (code: G) (the “ICE G Contract”) and the existing ICE Low Sulphur Gasoil Futures Contract with 10ppm sulphur content (code: ULS) (the “ICE ULS Contract”).In the ICE circular, ICE determined to (i) change the specifications for the ICE G Contract to 10ppm with respect to February 2015 and later contract months and, simultaneous with such specification change, change the name of the ICE G Contract from the “ICE Gasoil Futures Contract” (code: G) to the “ICE Low Sulphur Gasoil Futures Contract” (code: G); and (ii) discontinue the ICE ULS Contract with respect to February 2015 and later contract months. ICE determined that these changes will take effect immediately after the close of business on 30 May 2014 (the “Effective Date”). - Platts Best Practice Statement
This statement of best practice in the interest of promoting orderly valuation and settlement with respect to Platts proposed change to their Dated Brent assessment. December 20, 2011 - Platts Best Practice Statement
Best Practices Statement for Certain OTC derivatives transactions affected by Platt’s discontinuation of specific Gasoil and Fuel Oil quotes. Also, and the point-to-point differentials. Published December 18, 2009 - Argus Best Practices
Best Practices Statement for Certain OTC derivatives transactions affected by Argus’ discontinuation of specific Gasoline barge assessments. Published December 7, 2009 - Platts Best Practices Statement Methodology
Published June 10, 2009 - Best Practices Statement for Platts Quote Discontinuance
Best Practices Statement for Certain OTC derivatives transactions affected by Platt’s discontinuation of specific Diesel quotes. Published January 28, 2009
Commodities Documentation Matrix
- ISDA Commodities Documentation Matrix
This Matrix provides members with a summary of various Commodities documentation (both published and in draft form) by product and region. July 30, 2010.
Commodities Definitions
- 2005 ISDA Commodity Definitions and User’s Guide to the 2005 ISDA Commodity Definitions
The Definitions revise, update and expand upon the 1993 ISDA Commodity Derivatives Definitions, the 2000 Supplement to the 1993 Definitions and incorporates the 1997 ISDA Bullion Definitions. Published June 30, 2005 - Amendment Agreement and Side Letter
For parties who agree to substitute references in a Schedule or Confirmation to the 1993 ISDA Commodity Derivatives Definitions, the 2000 ISDA Supplement and the 1997 ISDA Bullion Definitions with a reference to the 2005 ISDA Commodity Definitions. Published June 23, 2005
Coal
- Revised 2009 ISDA Physical Coal Annex and Confirmation Templates
The 2009 ISDA Global Physical Coal Annex is intended to facilitate the purchase or sale of physical coal (sourced in international markets as well as the US) on a spot or forward basis, or trading in options to purchase or sell physical coal. Published October 30, 2009 - ISDA Global Physical Coal Annex
Published April 18, 2007. Superseded by the above.
Emissions – US
- 2010 U.S. Emissions Allowance Transaction Annex and Confirmation
Published September 2, 2010 - 2006 U.S. Emissions Allowance Transaction Annex and Confirmation
For the purchase, sale or exchange of an emissions product on a spot or forward basis, or as option to purchase, sell or exchange an emissions product
Emissions – EU
- Additional Provisions for EU Emissions Allowance Transactions for delivery in Phase 2, during and following migration to Union Registry, Published June 26, 2012.
- Form of Part [7] to the Schedule to an ISDA Master Agreement for EU Emissions Allowance Transactions (incorporating options)(Version 5)( Modified for Phase 3 delivery) published May 23, 2012
- Additional Provisions and bilateral amendment letter to address “stolen” EU emissions allowances. Published December 2, 2011
- EU Emissions Allowance Transaction Document: part [6] to the Schedule to an ISDA Master Agreement (Version 4) (incorporating options) and (Version 2.5)
Modified for Phase 2 delivery. Published February 11, 2008 - EU Emissions Allowance Transaction Documents: part [6] to the Schedule (Version 3)
adds Confirmation of OTC Physically Settled EU Emissions Allowance Option
and Confirmation of OTC Physically Settled EU Emissions Allowance Forward
Gas
- North American Gas Annex
Published November 23, 2004 - 2009 Amendment Addendum
Canadian Addendum
Confirmation Template - European Gas Annex
For physical trading (NBP and ZBT contracts) under the ISDA Master Agreement. Published May 31, 2005 - Revised ISDA European Gas Annex (NBP Only)(Version1: 10 September 2015) and ISDA European Gas Annex NBP 97 to NBP 15 Change Letter (Version 1: 10 September 2015)
Oil
Latest
Joint Response to EBA Consultation
On August 12, ISDA and the Association for Financial Markets in Europe (AFME) responded to the European Banking Authority’s discussion paper on certain taxonomy key performance indicators (KPIs) and other aspects of the Disclosures Delegated Act under Article 8 of...
Response to JSCC on Clearing Fund Consolidation
On August 12, ISDA responded to the Japan Securities Clearing Corporation’s (JSCC) consultation on its proposal to consolidate clearing fund consumption, calculation and deposit segmentation across six clearing qualifications under the Financial Instruments and Exchange Act. ISDA members broadly support...
Response on CSDD Guidelines
On August 6, ISDA responded to the European Commission’s (EC) consultation on due diligence guidelines under the Corporate Sustainability Due Diligence Directive (CSDDD). While ISDA acknowledges that model contractual clauses can be a helpful resource for in-scope companies, there are...
Response to BoE on Extension of Settlement Hours
On August 6, ISDA responded to the Bank of England’s (BoE) consultation paper on the extension of settlement hours for RTGS and CHAPS, the UK’s high-value payment system. ISDA supports the BoE’s plan to extend RTGS and CHAPS settlement hours...