ISDA will this year publish a replacement for its flagship interest rate definitions booklet. The new 2021 ISDA Interest Rate Derivatives Definitions will consolidate over 70 supplements from the 2006 ISDA Definitions into a newly minted main book, as well as making changes so the definitions better reflect the characteristics of modern interest rate derivatives markets. In anticipation of its final publication and October 4 implementation date, ISDA’s Senior Counsel for Europe, Rick Sandilands, spoke with MarkitSERV’s Guy Gurden, FpML’s Brian Lynn and ISDA’s Jonathan Martin on how the definitions will be implemented and what steps market participants should take as they switch from the 2006 to the 2021 Definitions.
Please note that as at the date of recording, the 2021 Definitions were still going through the final stages of working group review. The information provided in this video is therefore subject to change. For the latest information on the topics discussed, please refer to the ISDA website at www.isda.org or contact your local ISDA representative.