The below table provides a high-level summary of the status of updates to ISDA’s netting, collateral and principal-to-principal clearing opinions in 2024. To access the most recent opinions, please visit our opinions library. If you have any questions, please reach out to the appropriate jurisdiction contact listed at the end of the below table.
| Country | Counsel | Opinion Type | Commission Date* |
| Andorra | Cases & Lacambra | Netting | Update Commissioned |
| Anguilla | Harneys | Netting, Collateral | Q3 |
| Argentina | Estudio O’Farrell | Netting, Collateral, CM Reliance | Q2 |
| Armenia | TK & Partners | Netting, Collateral | Update Commissioned |
| Australia | King & Wood Mallesons | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Austria | Schoenherr Rechtsanwaelte GmbH | Netting, CM Reliance | Q2 |
| DLA Piper Weiss-Tessbach | Collateral | Q2 | |
| Bahamas | Lennox Paton | Netting, Collateral, CM Reliance | Update Commissioned |
| Barbados | Chancery Chambers | Netting, Collateral | Q3 |
| Belgium | DLA Piper | CM Reliance, Client Reliance | Q2 |
| Loyens & Loeff Advocaten – Avocats | Netting, Collateral | Q2 | |
| Bermuda | Appleby | Netting | Q4 |
| Harneys | Collateral, CM Reliance, Client Reliance | Q4 | |
| Brazil | Pinheiro Neto Advogados | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| British Virgin Islands | Harneys | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Bulgaria | Eversheds Sutherland | Netting | Q3 |
| Canada | Osler | Netting, Collateral, CM Reliance | Q2 |
| Canada (Quebec) | Stikeman | Collateral | Q2 |
| Cayman Islands | Maples and Calder | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Chile | Carey y Cia Ltda | Netting, Collateral | Q4 |
| China | King & Wood Mallesons | Netting, Collateral, CM Reliance | Update Commissioned |
| Colombia | Pérez-Llorca, Gómez-Pinzón | Netting, Collateral, CM Reliance | Update Commissioned |
| Costa Rica | Consortium Legal | Netting, Collateral | Q2 |
| Croatia | Schoenherr Rechtsanwaelte GmbH | Netting, Collateral | Q4 |
| Curacao, Aruba, St. Maarten | Clifford Chance LLP | Netting, Collateral, CM Reliance, Client Reliance | Published |
| Cyprus | Harneys | Netting, Collateral, CM Reliance | Q3 |
| Czech Republic | A&O Shearman | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Denmark | Gorrissen Federspiel | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| England and Wales | Linklaters | Netting, Collateral | Q3 |
| A&O Shearman | CM Reliance, Client Reliance | Q3 | |
| Finland | DLA Piper Finland | Collateral | Q3 |
| Hannes Snellman | Netting, CM Reliance, Client Reliance | Q3 | |
| France | Jones Day | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Georgia | Dentons | Netting | Q2 |
| Germany | Clifford Chance Deutschland LLP | CM Reliance, Client Reliance | Q2 |
| Linklaters | Netting, Collateral | Q2 | |
| Gibraltar | Hassans | Netting | Update Commissioned |
| Greece | Karatzas & Partners | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Guernsey | Ogier | Netting, Collateral, CM Reliance | Q2 |
| Hong Kong | Linklaters | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Hungary | A&O Shearman | Netting, Collateral, CM Reliance, Client Reliance | Q2 |
| Iceland | Logos | Netting, Collateral, CM Reliance | Update Commissioned |
| India | Juris Corp | Netting, Collateral, CM Reliance | Q2 |
| Indonesia | Armand Yapsunto Muharamsyah & Partners | Netting, Collateral | Update Commissioned |
| Ireland | McCann Fitzgerald | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Israel | Yigal Arnon & Co. | Collateral | Q3 |
| Meitar Liquornik Geva Lesham Tal | Netting, CM Reliance | Q3 | |
| Italy | A&O Shearman | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Japan | Linklaters | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Kazakhstan | Dentons Kazakhstan LLP | Netting | Q2 |
| Kazakhstan (AIFC) | Dentons Kazakhstan LLP | Netting | Q2 |
| Jersey | Ogier | Netting, Collateral, CM Reliance, Client Reliance | Q2 |
| Latvia | Eversheds Sutherland | Netting, Collateral | Q4 |
| Liechtenstein | Gasser & Partner | Netting, Collateral, CM Reliance | Q2 |
| Lithuania | Sorainen | Netting, Collateral | Update Commissioned |
| Luxembourg | Linklaters LLP | Collateral | Q4 |
| Allen & Overy | Netting, CM Reliance, Client Reliance | Q4 | |
| Malaysia | Shearn Delamore and Co | Netting, Collateral, CM Reliance | Published |
| Malta | Ganado Advocates | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Marshall Islands | Campbell Johnston Clark | Netting | Published |
| Mauritius | Appleby Global | Netting, Collateral, CM Reliance | Q4 |
| Mexico | Ritch Mueller | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Netherlands | NautaDutilh N.V., the Netherlands | Netting, Collateral, CM Reliance, Client Reliance | Q2 |
| New Zealand | Bell Gully | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Nigeria | G. Elias & Co | Netting | Update Commissioned |
| Northern Ireland | Cleaver Fulton Rankin | Netting | Update Commissioned |
| Norway | Wiersholm | Netting, Collateral, CM Reliance, Client Reliance | Q2 |
| Peru | Echecopar | Netting, Collateral, CM Reliance | Q4 |
| Philippines | Morales & Justiniano | Netting, Collateral, CM Reliance, Client Reliance | Q2 |
| Poland | A&O Shearman | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Portugal | PLEN Sociedade de Advogados, RL | Netting | Q2 |
| CARDIGOS e Associados | Collateral, CM Reliance, Client Reliance | Q2 | |
| Qatar (QFC) | Simmons & Simmons | Netting, Collateral | Update Commissioned |
| Romania | Leroy si Asociatii | Netting, Collateral, CM Reliance | Q3 |
| Russia | Clifford Chance | Netting, Collateral, CM Reliance | N/A |
| Saudi Arabia | STAT | Netting, Tahawwut Master Agreement Netting, Collateral | Q2 |
| Scotland | CMS Cameron McKenna | Netting, Collateral, CM Reliance, Client Reliance | Q2 |
| Serbia | Schoenherr | Netting, Collateral | Q2 |
| Singapore | Allen & Gledhill LLP | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Slovakia | A&O Shearman | Netting | Q3 |
| Slovenia | Šelih & Partnerji | Netting, Collateral, CM Reliance | Q3 |
| South Africa | DLA Piper | Netting, Collateral, CM Reliance | Published |
| South Korea | Kim & Chang | Netting, Collateral, CM Reliance | Q3 |
| Spain | Clifford Chance | Netting and Collateral | Q4 |
| Alarde | CM Reliance, Client Reliance | Q4 | |
| Sweden | Wistrand Advokatbyrå Göteborg KB | Netting, CM Reliance, Client Reliance | Q3 |
| Mannheimer Swartling | Collateral | Q3 | |
| Switzerland | Lenz & Staehelin | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Taiwan | Russin & Vecchi | Netting, Collateral, CM Reliance | Q4 |
| Thailand | Baker & McKenzie | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Turkey | Pekin & Pekin | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| UAE (ADGM) | A&O Shearman | Netting, Collateral, CM Reliance | Update Commissioned |
| UAE (DIFC free zone) | Clifford Chance | Netting | Update Commissioned |
| UAE (Federal) | Clifford Chance | Netting | Q3 |
| USA | Sidley Austin LLP | Opinions for Insurance Companies (AZ,CT,DE,IL,IN,IA,MA,MN,NY,VA) | Update Commissioned |
| Clifford Chance | Netting, Collateral | Q4 |
* The date refers to the period the update to the opinion will be commissioned.
ISDA Contacts
If you require further information on any of the above jurisdictions, please contact the relevant contact below for your jurisdiction of interest.
Europe, the Middle East & Africa – Flavia Lima-McCulloch
Americas – Fred Quenzer
Australasia – Jing Gu and Monica Chiu
For general opinion queries, please contact Flavia Lima-McCulloch and Breda Walsh.