July 23, 2026
On June 29, 2026, ISDA published a new version of Sub-Annex A to the 2005 ISDA Commodity Definitions (Sub-Annex A).
Sub-Annex A contains a list of Commodity Reference Prices (CRPs) and related terms that parties can reference in over-the-counter derivatives contracts. The CRPs contained in Sub-Annex A cover the following asset classes:
- Agricultural Products;
- Energy;
- Freight;
- Metals;
- Paper;
- Composite Commodity Indices.
Version 1 of Sub-Annex A reflects the original version of Sub-Annex A, as published with the 2005 ISDA Commodity Definitions on June 30, 2005.
Version 2 of Sub-Annex A reflects the original version of Sub-Annex A as if it were amended and restated to incorporate the terms of the supplement to Sub-Annex A published on May 12, 2006. Parties are encouraged to take note of the acknowledgement pop-up when navigating to version 2 of Sub-Annex A, which is provided for information purposes.
Version 3 of Sub-Annex A was published on August 7, 2023, with updates to CRPs in the Agricultural Products section.
Version 4 of Sub-Annex A was published on April 28, 2025, with updates to certain Natural Gas CRPs in the Energy section.
Version 5 of Sub-Annex A was published on November 9, 2025, with updates to certain Natural Gas and Liquified Natural Gas CRPs in the Energy section.
Version 6 of Sub-Annex A was published on March 30, 2026, with updates to certain Natural Gas and Natural Gas Liquid CRPs in the Energy section.
Version 7 of Sub-Annex A was published on June 29, 2026, with updates to certain Agricultural Products as well as Natural Gas and Electricity CRPs in the Energy section.
The versions of Sub-Annex A described above have been published in digital format on ISDA’s MyLibrary platform.
Latest
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.
10 Years of the ISDA SIMM
As the derivatives industry prepared for the September 2016 implementation of initial margin requirements for non-cleared derivatives, one challenge stood out: counterparties needed to agree on the amount of initial margin to be exchanged. But if each firm developed its...
Expanding the Universe of Eligible VM
ISDA conducted a series of interviews with buy- and sell-side firms to understand the drivers of a growing use of non-cash assets as variation margin (VM) for non-cleared over-the-counter (OTC) derivatives and the barriers that remain to expanding the use...
ISDA Response on Hedge Accounting Guidance
On August 14, ISDA responded to an exposure draft from the Financial Accounting Standards Board (FASB). ISDA broadly supports the FASB’s proposed targeted improvements to hedge accounting, including allowing interest rate hedging of held-to-maturity (HTM) debt securities, recognizing all Secured...
