Amicus Briefs

ISDA’s amicus program is another important way that we fulfill our commitment to advocacy on behalf of the industry. ISDA files amicus briefs, known as “friend of the court” briefs, in court cases around the world that raise important policy issues that impact the over the counter derivatives market and market participants.

Because of ISDA’s role in the development of derivatives markets, ISDA is uniquely well positioned to address issues of general importance to the industry. For example, ISDA has filed numerous briefs addressing the interpretation of the safe harbor provisions in the Bankruptcy Code as well as defending ISDA documentation provisions.

ISDA’s amicus program continues to actively monitor litigations that may impact the OTC derivatives market or market participants and we welcome member suggestions for possible participation in cases.

Response to BoE on Systemic Stablecoins

On February 10, ISDA responded to the Bank of England’s (BoE) consultation on a proposed regulatory regime for sterling-denominated systemic stablecoins. In the response, ISDA highlights that any regulatory framework should be assessed through the lens of prudent risk management...

SwapsInfo Full Year 2025 and Q4 2025

Trading activity in interest rate derivatives (IRD) and credit derivatives increased in 2025, reflecting shifting monetary policy expectations and broader market conditions. IRD traded notional rose by about 46% year-on-year, led by an increase in overnight index swaps (OIS). Index...