ISDA Digital Asset Derivatives Definitions

The ISDA Digital Asset Derivatives Definitions (the “Digital Asset Definitions”) are designed for use by participants in privately negotiated transactions to document non-deliverable digital asset forwards and options referencing Bitcoin (BTC) or Ether (ETH). The Digital Asset Definitions are intended for use in confirmations of individual transactions governed by the ISDA Master Agreement.

The Digital Asset Definitions have been designed in a format that can be updated over time as the market and technology evolves. The Digital Asset Definitions uses a controlled language structure to identify operational processes, facilitating implementation within a DLT-based infrastructure, including within a smart contract.

Also included in a separate link are suggested forms of confirmation and a Price Source Matrix. The suggested forms of confirmation set out placeholders for the economic terms of individual non-deliverable forward and option transactions, as well as other elections parties may wish to make. The Price Source Matrix contains standardised information relating to certain BTC and ETH price sources that have been identified by members of the ISDA Digital Assets Legal Group, allowing them to be easily referenced within transaction confirmations.

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