This section catalogues ISDA’s work across the equity derivatives space:  documentation, public policy, market structure, market practices, research and other areas.

Equity Derivatives Definitions, Matrices and Bookstore page

Equity Derivatives Master Confirmation Templates (by region):

Americas

Asia (ex-Japan)

  • 2009 Pan-Asia Interdealer Master Equity Derivatives Confirmation Agreement
    Includes Annex PAISS which documents Pan-Asia Interdealer Share Swaps in the countries specified and otherwise as agreed by the parties. Published September 11, 2009
  • Market Practice Statement regarding Change in TWD Fixing Time in the ISDA AEJ Reference Price
    Revised ISDA AEJ Reference Price Source Matrix. Published June 25, 2009, supersedes version dated November 29, 2006
  • Revised 2008 AEJ Master Equity Derivatives Confirmation Agreement
    Incorporates Annex CMISO in addition to Annexes previously published. The Confirmation Agreement contains the following annexes: the Multiple Exchange Index Annex; Annex CMISO, which documents to document index and share Option Transactions referencing closed markets; the Open Market Annex OMISO, which documents cash and physically-settled European and American style index and share options; and the Open Market Annex OMEFS, which documents cash-settled equity finance share swaps. Open market annexes reference underlying shares or indices in Australia, Hong Kong, New Zealand or Singapore; Closed market annexes reference underlying shares or indices in India, Indonesia, Korea, Malaysia, Taiwan and Thailand. Published October 7, 2009, supersedes version dated March 9, 2009.
  • AEJ Cash Settled Closed Markets Index Share Options Annex
    Documents index and share Option Transactions referencing closed-markets entered into between counterparties under the Revised 2008 AEJ Master Equity Derivatives Confirmation Agreement. Published October 7, 2009
  • Second Revised 2005 AEJ Interdealer Master Equity Derivatives Confirmation Agreement – The Second Revised 2005 AEJ (Asia Excluding Japan) Interdealer Master Equity Derivatives Confirmation Agreement incorporates the amendments that were made to the Revised 2005 AEJ Interdealer Master Equity Derivatives Confirmation Agreement by the 2009 ISDA AEJ Derivatives Protocol published by ISDA on March 9, 2009. The Confirmation Agreement is designed to document Index Option, Index Swap, Share Option and Share Swap Transactions with respect to underlying shares or indices in Australia, Hong Kong, India, Indonesia, Korea, Malaysia, New Zealand, Singapore, Taiwan and Thailand in the interdealer market.
  • Revised 2007 AEJ Master Variance Swap Confirmation Agreement – The Revised 2007 AEJ Master Variance Swap Confirmation Agreement incorporates the amendments that were made to the 2007 AEJ Master Variance Swap Confirmation Agreement by the 2009 ISDA AEJ Derivatives Protocol published by ISDA on March 9, 2009.  The Confirmation Agreement documents cash-settled index and share variance swap transactions with respect to an underlying index or share in Australia, Hong Kong, India, Indonesia, Korea, Malaysia, New Zealand, Pakistan, Philippines, Singapore, Taiwan, Thailand and Vietnam.
  • 2007 AEJ Master Variance Swap Confirmation Agreement – The 2007 AEJ Master Variance Swap Confirmation Agreement documents index and share variance swap transactions with respect to an underlying index or share in Australia, Hong Kong, India, Indonesia, Korea, Malaysia, New Zealand, Singapore, Taiwan and Thailand.
  • Amendment to the 2005 AEJ Interdealer Master Equity Derivatives Confirmation Agreement The Amendment will enable parties who have executed the 2005 AEJ Interdealer Master Equity Derivatives Confirmation Agreement to amend Annex IO (Index Option) and SO (Share Option) of their existing 2005 AEJ Interdealer Master Equity Derivatives Confirmation Agreement by inserting the date of the amendment on Exhibit I.
  • Revised 2005 AEJ Interdealer Master Equity Derivatives Confirmation Agreement – The Confirmation Agreement is designed to document Index Option and Share Option Transactions with respect to underlying shares or indices in Australia, Hong Kong, India, Indonesia, Korea, Malaysia, New Zealand, Singapore, Taiwan and Thailand in the interdealer market.
  • Additional Provisions for Use with Indian Underliers
    Use in conjunction with the 2005 AEJ Interdealer Master Equity Derivatives Confirmation Agreement. Published – June 6, 2005
  • Memo regarding AEJ Master Equity Derivatives Confirmation – Joint Calculation Agents
    Memo from Allen & Overy regarding use of Joint Calculation Agents in the 2005 AEJ (Asia Excluding Japan) Interdealer Master Equity Derivatives Confirmation Agreement

BRIC

  • BRIC 40 Index Template
    Long form confirmation is for use with index option transactions which reference S&P BRIC40 Index.

EMEA

  • 2010 EMEA EM Interdealer Master Equity Derivatives Confirmation Agreement
    Includes Annex ISEMO. Annex ISEMO documents equity cash-settled index options and cash/physically-settled share option transactions with respect to an underlying index or share in Czech Republic, Egypt, Greece, Hungary, Israel, Kuwait, Poland, Qatar, Russia, South Africa, Turkey, the United Arab Emirates and any other country otherwise agreed between the parties. Published November 23, 2010

Japan

Market Infrastructure links:
From the Market Infrastructure Equity Derivatives page.

PLEASE NOTE:  ISDA does not maintain an exhaustive list of market events.  The events listed below are only those where ISDA has held market discussions and where general consensus was reached as to treatment of a particular event.  Absence of a particular event from the list should not be taken as an indication that the particular day or event is or is not a Disrupted Day,  Market Disruption Event or Pricing Disruption Event.

As with all market information and guidance that ISDA disseminates, parties are free to choose alternate means of addressing the event. Each market participant remains responsible for considering its own documentation and the specific terms of its own trades and forming its own conclusion on the proper interpretation of events.

 

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