ISDA has published the sixth in a series of legal guidelines for smart derivatives contracts, intended to support technology developers, lawyers and other key stakeholders in the development of smart derivatives contracts and other technology solutions in the credit derivatives (CDS) market. These guidelines:
- Provide high level background on the CDS market;
- Identify opportunities for the potential application of smart contract technology to CDS;
- Highlight important issues for technology developers to consider when designing technology-enabled solutions for trading and processing CDS and associated processes.
While the intention of this paper is not to specify or recommend any particular approach or to address any particular technological application or project, these guidelines do suggest steps that should be taken to ensure the design and implementation of new technology solutions are consistent with existing legal and regulatory standards. These guidelines also highlight areas where further industry collaboration will be required to identify existing areas of legal and regulatory uncertainty and to develop solutions.
Click on the attached PDF to read the paper.
You can access all of ISDA’s papers on smart contracts here.
Documents (1) for Legal Guidelines for Smart Derivatives Contracts: Credit Derivatives
Latest
An Important Step Towards Efficient Reporting
Of all the problems that have hindered effective trade reporting in the derivatives market, one of the most difficult to resolve has been duplication. In the EU, both parties to a trade are mandated to submit the same information, while...
The ISDA Notices Hub: One Year On
In times of war, armed forces are often required to mobilize over large distances at short notice. The most dreaded response to the question of how they are to be transported is ‘by LPC’, meaning ‘leather personnel carrier’ – the...
ISDA Response to OSC Call for Feedback
On June 26, ISDA responded to the Ontario Securities Commission’s (OSC) consultation on facilitating access to its regulatory framework and reducing the burden for capital markets participants by publishing a machine-readable dataset of regulatory instruments. ISDA's comments are supportive of...
ISDA Comments on EP's MISP Draft Reports
On July 15, ISDA shared comments with policymakers in the European Union on the European Parliament’s (EP) draft reports by Member of the European Parliament (MEP) Markus Ferber and MEP Eero Heinäluoma on the Market Integration and Supervision Package (MISP)....