ISDA has published the second in a series of legal guidelines for smart derivatives contracts, intended to explain the core principles of ISDA documentation and to raise awareness of important legal terms that should be maintained when a technology solution is applied to derivatives trading.
The second paper summarizes the main elements of the ISDA Master Agreement, and sets out possible considerations for technology developers.
Further papers will follow that will provide more detailed analysis on other ISDA documents.
These guidelines are not intended to specify or recommend any particular approach, or address any particular technological application or project. Rather, they are intended to provide high-level guidance on the legal documentation and framework that currently governs derivatives trading, and to point out certain issues that may need to be considered by technology developers when introducing technology into that framework.
Click on the PDF below to read the paper.
The first paper – Legal Guidelines for Smart Derivatives Contracts: Introduction – is available here.
Want to know more? ISDA is offering Symposiums on Smart Contracts in London and New York: