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

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

News on current FX Derivatives initiatives:

• FX Definitions Survey – ISDA launched a survey to better understand if and how the 1998 FX Definitions and related documentation might be improved. More information is available at the following webpage ISDA FX Definitions Market Participant Survey and by joining the ISDA FX Operations Group.
• FX Definitions Update Strategy – ISDA developed a strategy for updating the FX Definitions between 2024 and 2027. More information is available at the following webpage Strategy for Updating the FX Definitions and by joining the ISDA FX Definitions Update Group.
• 2022 Barrier Event Supplement Implementation – ISDA is coordinating the implementation of the 2022 Barrier Event Supplement to paper confirmations, following the adoption of such supplement onto Swift’s messaging systems on November 19, 2023. To learn more on this topic please join the ISDA FX Operations Group.
• 2023 Forward Volatility Agreement – ISDA published the 2023 Forward Volatility Agreement Supplement to the 1998 FX Definitions in MyLibrary on October 30, 2023. For more information please join the ISDA FX Operations Group.

If you have any questions or would like additional information in relation to these matters, please email: marketinfrastructureandtechnology@isda.org.