Supplements to the 1998 FX and Currency Option Definitions

September 2019 Averaging Supplement to the 1998 FX and Currency Option Definitions (the “Supplement”)
The Supplement provides standard terms and provisions that can be incorporated within confirmations to FX Transactions which include averaging features.
Specifically, the Supplement contains provisions to determine an Averaging Rate in respect of a Forward Rate, a Settlement Rate and a Strike Price.

November 2018 Volatility Swap, Variance Swap and Correlation Swap Supplement to the 1998 ISDA FX and Currency Option Definitions (the “Supplement”)
The Supplement updates the June 2013 Volatility Swap and Variance Swap Supplement to the 1998 ISDA FX and Currency Option Definitions by:

  • Extending coverage to correlation swaps; and
  • Incorporating the most recent version of Annex A to the FX Definitions.

The update also includes some additional tidy ups and clarifications. The Supplement is also available vis ISDA’s MyLibrary.

June 2013 Volatility Swap and Variance Swap Supplement to the 1998 ISDA FX and Currency Option Definitions (July 3, 2013)
The June 2013 Volatility Swap and Variance Swap Supplement incorporates terms and a template for a Volatility Swap and a Variance Swap as an amendment to the 1998 FX and Currency Option Definitions and the Annex to the 1998 FX and Currency Option Definitions, respectively. Further, this supplement replaces the May 2011 Volatility Swap Supplement to the 1998 ISDA FX and Currency Option Definitions.

May 2011 Volatility Swap Supplement to the 1998 FX and Currency Option Definitions (June 3, 2011)
The May 2011 Volatility Swap Supplement incorporates terms and a template for a Volatility Swap as an amendment to the 1998 FX and Currency Option Definitions and the Annex to the 1998 FX and Currency Option Definitions, respectively.

Non-Deliverable Cross Currency FX Transactions Supplement (May 31, 2011)
The Non-Deliverable Cross Currency FX Transactions Supplement incorporates terms to the 1998 FX and Currency Option Definitions (the “1998 Definitions”) that are needed to facilitate the documentation of non-deliverable cross currency FX transactions. The Supplement is also available via ISDA’s MyLibrary.

2005 Barrier Option Supplement to the 1998 FX and Currency Option Definitions
The 2005 Barrier Option Supplement to the 1998 FX and Currency Option Definitions (the “2005 Supplement) enables market participants to readily document a variety of barrier and binary options under the framework of the 1998 Definitions. The 2005 Supplement sets forth common reference terms for a growing sector of the foreign exchange marketplace and should offer the benefits of efficient documentation processes and enhanced legal certainty to market participants.
Exhibits to the 2005 Supplement illustrate how barrier and binary options may be confirmed under its terms, and accompanying Practice Notes explain its provisions. Matrices with best practice recommendations for specifying certain confirmation terms under the 2005 Supplement also are being published and will be updated periodically by the co-sponsors
Two technical revisions have been made to the 2005 Barrier Option Supplement to the 1998 FX and Currency Option Definitions (“2005 Supplement”) which was first published on December 6, 2005. The first revision suggests how to incorporate the 2005 Supplement into a Barrier or Binary Option Transaction.  The second revision further describes the approach taken to the conventions for stating Currency Pairs in the Currency Pair Matrix that was published with the 2005 Supplement.

2022 Barrier Event Supplement to the 1998 FX and Currency Option Definitions
The 2022 Barrier Event Supplement to the 1998 FX and Currency Option Definitions (the “2022 Supplement) contains standard terms and provisions for documenting Currency Option Transactions with barrier features. The 2022 Supplement is an update to the 2005 Barrier Option Supplement, but it does not amend such prior supplement.  The 2022 Supplement, along with related exhibits and an FAQ document, are available in ISDA’s MyLibrary, via the link here.

Free downloads for Supplements to the 1998 FX and Currency Option Definitions (11)