The 2026 FX Definitions are jointly published by ISDA and EMTA and are intended for use in confirmations of individual transactions governed by ISDA Master Agreements or another relevant master agreement.

The purpose of the 2026 FX Definitions is to provide the basic framework for the documentation of privately negotiated FX transactions, FX option transactions and other FX derivatives transactions. The 2026 FX Definitions update the 1998 FX and Currency Option Definitions.

The 2026 FX Definitions are published as a natively digital definitional booklet, and are available via ISDA’s electronic documentation platform, MyLibrary, via the links below. The digital format creates significant efficiencies in how firms use and interact with the definitions, reducing complexity and the potential for error. Unlike the 1998 FX and Currency Option Definitions whereby periodic amendments were made by way of supplements, ISDA republishes a revised digital version of any component part of the 2026 FX Definitions (such as the main book or any matrix that has been amended) in full each time updates are required. Subscribers to the 2026 FX Definitions are able to access a single golden-source version of the definitions that applied at any point in time.