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 2022. 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 | Update Status* |
| Anguilla | Harneys | Netting, Collateral | Updates published in 2022 |
| Argentina | Estudio O’Farrell | Netting | Update published in 2022 |
| Armenia | TK & Partners | Netting | Update published in 2022 |
| Australia | King & Wood Mallesons | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2023 |
| Austria | Schoenherr Rechtsanwaelte GmbH | Netting, CM Reliance | Updates published in 2023 |
| DLA Piper Weiss-Tessbach | Collateral | Updates published in 2022 | |
| Bahamas | Higgs & Johnson | Netting, Collateral, CM Reliance | Commissioned updates in 2022 (Q3) |
| Barbados | Chancery Chambers | Netting, Collateral | Updates published in 2022 |
| Belgium | DLA Piper | Netting, CM Reliance, Client Reliance | Netting pending from new counsel |
| Loyens & Loeff Advocaten – Avocats | Collateral | Updates published in 2022 | |
| Bermuda | Appleby | Netting | Update published in 2023 |
| Harneys | Collateral, CM Reliance | Commissioned updates in 2022 (Q4) | |
| Brazil | Pinheiro Neto Advogados | Netting, Collateral, CM Reliance | Updates published in 2022 |
| British Virgin Islands | Harneys | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2022 |
| Canada | Osler | Netting, Collateral, CM Reliance | Updates published in 2022 |
| Canada (Quebec) | Stikeman | Collateral | Commissioning updates in Q2 |
| Cayman Islands | Maples and Calder | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2022 |
| Chile | Carey y Cia Ltda | Netting, Collateral, CM Reliance | Netting and Collateral updates published in 2022 |
| Colombia | Gomez-Pinzon | Netting, Collateral, CM Reliance | Commissioned updates in 2022 (Q4) |
| Costa Rica | Consortium Legal | Netting | New opinion published in 2022 |
| Croatia | Schoenherr Rechtsanwaelte GmbH | Netting | Netting update pending |
| Curacao, Aruba, St. Maarten | Clifford Chance LLP | Netting, Collateral, CM Reliance | Updates published in 2022 |
| Cyprus | Harneys | Netting, Collateral, CM Reliance | Commissioned updates in 2022 (Q3) |
| Czech Republic | Allen & Overy | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2022 |
| Denmark | Gorrissen Federspiel | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2022 |
| England and Wales | Linklaters | Netting, Collateral, CM Reliance, Client Reliance | Netting opinion published in 2022. New opinions pending from Linklaters |
| Finland | DLA Piper Finland | Collateral | Updates published in 2023 |
| Hannes Snellman | Netting, CM Reliance, Client Reliance | Updates published in 2023. Client Reliance opinion published in 2022 | |
| France | Jones Day | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2022 |
| Georgia | Dentons | Netting | Update published in 2022 |
| Germany | Clifford Chance Deutschland LLP | CM Reliance, Client Reliance | Client Reliance opinion updates published in 2022 |
| Linklaters | Netting, Collateral | Netting opinion update published in 2022. Collateral updates published in 2023 | |
| Greece | Karatzas & Partners | Netting, Collateral, CM Reliance | Updates published in 2022 |
| Guernsey | Ogier | Netting, Collateral, CM Reliance | Netting and Collateral opinions updated in 2022 |
| Hong Kong | Linklaters | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2023 |
| Hungary | Allen & Overy LLP | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2023 |
| Iceland | Logos | Netting, Collateral, CM Reliance | Updates published in 2023 |
| India | Juris Corp | Netting, Collateral, CM Reliance | Pending |
| Indonesia | Armand Yapsunto Muharamsyah & Partners | Netting, Collateral | Commissioned updates in 2022 (Q4) |
| Ireland | McCann Fitzgerald | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2022 |
| Israel | Yigal Arnon & Co. | Collateral | Updates published in 2022 |
| Meitar Liquornik Geva Lesham Tal | Netting, CM Reliance | Updates published in 2022 | |
| Italy | Allen & Overy | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2023 |
| Japan | Linklaters | Netting, Collateral, CM Reliance | Updates published in 2022 |
| Jersey | Ogier | Netting, Collateral, CM Reliance | Updates published in 2022 |
| Liechtenstein | Gasser & Partner | Netting, Collateral, CM Reliance | Updates published in 2023
CM Reliance opinion published in 2022 |
| Lithuania | Sorainen | Netting | Update published in 2022 |
| Luxembourg | Linklaters LLP | Collateral | Commissioned updates in 2022 (Q3) |
| Allen & Overy | Netting, CM Reliance, Client Reliance | Updates published in 2022 | |
| Malaysia | Shearn Delamore and Co | Netting, Collateral, CM Reliance | Updates published in 2023 |
| Malta | GANADO Advocates | Netting, Collateral, CM Reliance | Updates published in 2022 |
| Mauritius | Appleby Global | Netting, Collateral, CM Reliance | Updates published in 2022 |
| Mexico | Ritch Mueller | Netting, Collateral, CM Reliance, Client Reliance | CM Reliance update published in 2023. Netting, Collateral and Client Reliance updates published in 2022 |
| Netherlands | NautaDutilh N.V., the Netherlands | Collateral, CM Reliance, Client Reliance | Updates published in 2023 |
| De Brauw Blackstone Westbroek | Netting | Updates published in 2022 | |
| New Zealand | Bell Gully | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2022 |
| Nigeria | G. Elias & Co | Netting | Update published in 2022 |
| Norway | Wiersholm | Netting, Collateral, CM Reliance | Updates published in 2023 |
| Peru | Baker & McKenzie | Netting, Collateral, CM Reliance | Updates published in 2022 |
| Philippines | Morales & Justiniano | Netting, Collateral, CM Reliance | Netting, Collateral and CM Reliance updates published in 2022. Client Reliance update published in 2023 |
| Poland | Allen & Overy | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2023 |
| Portugal | PLEN Sociedade de Advogados, RL | Netting | Update published in 2022 |
| CARDIGOS e Associados | Collateral, CM Reliance, Client Reliance | Updates published in 2022 | |
| Qatar (QFC) | Simmons & Simmons | Netting | Update published in 2023 |
| Romania | Leroy si Asociatii | Netting, Collateral, CM Reliance | Updates published in 2023 |
| Russia | Clifford Chance | Netting, Collateral, CM Reliance | Netting and CM Reliance opinions published in 2022 |
| Scotland | CMS Cameron McKenna | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2023 |
| Serbia | Schoenherr | Netting | Update published in 2022 |
| Singapore | Allen & Gledhill LLP | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2023 |
| Slovakia | Allen & Overy Bratislava s.r.o. | Netting | Update published in 2022 |
| Slovenia | Boštjan Špec, odvetnik | Netting, Collateral, CM Reliance | Updates published in 2023 |
| South Africa | Cliffe Dekker Hofmeyr Inc. | Netting, Collateral, CM Reliance | Updates published in 2022 |
| South Korea | Kim & Chang | Netting, Collateral, CM Reliance | Commissioned updates in 2022 (Q4) |
| Spain | Clifford Chance | Netting, Collateral | Collateral opinions published in 2022 |
| Alarde | CM Reliance, Client Reliance | Commissioned updates in 2022 (Q4) | |
| Sweden | Wistrand Advokatbyrå Göteborg KB | Netting, CM Reliance, Client Reliance | Updates published in 2022 |
| Mannheimer Swartling | Collateral | Updates published in 2022 | |
| Switzerland | Lenz & Staehelin | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2022 |
| Taiwan | Russin & Vecchi | Netting, Collateral, CM Reliance | Netting and CM Reliance opinions published in 2022 |
| Thailand | Baker & McKenzie | Netting, Collateral, CM Reliance | Updates published in 2022 |
| Turkey | Pekin & Pekin | Netting, Collateral, CM Reliance, Client Reliance | Updates published in 2022 |
| UAE (ADGM) | Shearman & Sterling | Netting, Collateral | Commissioned updates in 2022 (Q4) |
| UAE (DIFC free zone) | Clifford Chance | Netting | Commissioned updates in 2022 (Q4) |
| UAE (Federal) | Clifford Chance | Netting | Commissioned updates in 2022 (Q4) |
| USA | Sidley Austin LLP | Opinions for Insurance Companies (CT,DE,IL,IN,IA,MA,MN,NY,VA) | Pending |
| Mayer Brown LLP | Netting, Collateral | Pending |
* 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 – Annabel Akintomide
Americas – Megan O’Flynn and Fred Quenzer
Australasia – Jing Gu and Monica Chiu
For general opinion queries, please contact Annabel Akintomide and Breda Walsh.