This section of the ISDA website is a hub for links to key information and ISDA’s work regarding FX Derivatives – including documentation, market structure, public policy, research, market practices, guidance notes and educational materials.
ISDA’s FX Derivatives working groups:
ISDA conducts work on FX Derivatives issues though a variety of working groups; however, there are three specific working groups focused on this asset class:
- ISDA FX Legal Steering Committee
- ISDA FX Operations Group
- ISDA FX Definitions Update Group
- ISDA FX Definitions Implementation Steering Committee
- ISDA FX Novations Subgroup
To request to join an ISDA working group: (1) Create an account on the ISDA website; and (2) After you create an account, log in and go to the Committees section to view your ISDA Committee Dashboard. You can request to join and leave working groups and distribution lists.
Links to key FX Derivatives infrastructures/documentation:
- 1998 FX and Currency Option Definitions (the “FX Definitions”), including Annex A
- Supplements to the FX Definitions
- Additional Provisions to the FX Definitions
- Market Closure InfoHub
- 2026 FX Definitions
- ISDA & EMTA FX Emerging Markets Documentation
News on current FX Derivatives initiatives:
- 2026 FX Definitions – Version 1.0 of the 2026 FX Definitions and ancillary documentation (matrices and confirmation exhibits) have been published in MyLibrary on March 3, 2026. The industry implementation go-live date is scheduled for November 22, 2027. For more information please visit the ISDA FX Definitions Update InfoHub or join the ISDA FX Definitions Update Group.
- 2026 FX Definitions Implementation – ISDA is addressing implementation matters with members of the ISDA FX Operations Group. Topics that will be addressed include the implementation of the 2026 FX Definitions’ confirmation templates, Swift message updates and other relevant market infrastructure implementation. For more information please visit the ISDA FX Definitions Update InfoHub or join the ISDA FX Operations Group.
If you have any questions or would like additional information in relation to these matters, please email: ISDADerivativeProductsAndInfrastructure@isda.org.
Latest
ISDA AGM Studio: Darcy Bradbury & Tyler Wellensiek
Darcy Bradbury, ISDA board member and managing director at D. E. Shaw, and Tyler Wellensiek, managing director and global head of market structure at BlackRock, speaks with Chris Young, ISDA’s head of US public policy, about how the post‑crisis regulatory...
Response to ESMA Guarantees
On April 30, ISDA responded to the European Securities and Markets Authority (ESMA) consultation paper on guarantees as central counterparty (CCP) collateral and certain aspects of CCP investment policy. ISDA broadly supports ESMA’s proposed draft regulatory technical standards (RTS) to...
ISDA AGM Studio: Jenny Cosco and Jason Granet
Jenny Cosco, global head of government relations and regulatory strategy at LSEG, and Jason Granet, chief investment officer at BNY, speak with Tara Kruse, ISDA’s global head of derivative products and infrastructure, about how firms can manage liquidity pressures during...
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.