To adhere to the Protocol and for FAQs and other information regarding the Protocol, please go to the ISDA 2016 Variation Margin Protocol page.
For a description of the documents below, please see “How is the Protocol structured? What is the purpose of the different Protocol documents?” on the Protocol FAQs page.
Recipient PCA Principal Annex
Revised EMIR Supplemental Annex (Dec. 16, 2016)
Japanese Notification Time Amendments Supplemental Annex (Jan. 13, 2017)
Non-netting Supplemental Annex (Jan. 20, 2017)
Segregation Amendments Supplemental Annex (Jan. 26, 2017)
Swiss (FMIA) rules Supplemental Annex (May 9, 2017)
Documents (6) for Recipient PCA Principal Annex
- 10recipient-pca-principal-annex(docx) will open in a new tab or window
- 10revised-emir-supplemental-recipient-pca-principal-annex(docx) will open in a new tab or window
- 10japan-notification-time-recipient-pca-principal-annex(docx) will open in a new tab or window
- 10non-netting-recipient-pca-principal-annex(docx) will open in a new tab or window
- 10seg-amends-recipient-pca-principal-annex(docx) will open in a new tab or window
- 10fmia-supplemental-recipient-pca-principal-annex(docx) will open in a new tab or window
Latest
ISDA Omnibus Canadian Representation Letter
On September 2, 2026, ISDA published the Omnibus Canadian Representation Letter (the “Omnibus Canadian Letter”), which combines previously published representation letters drafted to assist firms in compliance with Canadian trade reporting, business conduct, regulatory margin and clearing classification rules. The...
ISDA-FIA Letter re CFTC-SEC X Margin/Port Margin
On August 31, ISDA and the Futures Industry Association (FIA) submitted a letter to the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) on the agencies' Joint Request for Comment on Further Implementation of...
Accounting for Carbon Credits: Latest Developments
This paper updates and extends the analysis set out in ISDA’s October 2023 paper on accounting for carbon credits. While preserving the original focus on the accounting treatment of voluntary carbon credits (VCCs) and compliance carbon credits (CCCs), it expands...
Response to SEC on FICC Guaranty Fund
On September 1, ISDA and FIA submitted a joint response to the US Securities and Exchange Commission (SEC), supporting the Fixed Income Clearing Corporation’s (FICC) proposal to establish a dedicated guaranty fund at its government securities division (GSD). FICC had...