ISDA Reference Data provides key business terms used in ISDA documentation as fully machine-readable electronic codes, values and lists to enable efficient straight-through processing.
ISDA Reference Data reduces the time and effort it takes for firms to obtain key business terms and descriptions used in ISDA documentation and adapt it for their systems by providing a set of electronic files that capture both the codes and the descriptive metadata in a combined, electronically readable format. This removes the need for users to read and interpret the description of the data and determine where to source it.
It also allows firms to support new business information with much less effort and with more consistency, enabling the market to evolve more quickly and smoothly.
ISDA Reference Data is open access so is available to everyone. To access ISDA Reference Data, visit the ISDA Bookstore. For more information or to join one of the working groups, contact email@example.com.
About ISDA Reference Data
ISDA Reference Data provides representations of important business terms used in ISDA documentation as fully machine-readable electronic codes, values and lists. Key terms like the floating rate options (FRO) referenced in the 2021 ISDA Interest Rate Derivatives Definitions need to be used consistently by market participants to ensure smooth straight-through processing, including for processes such as confirmation and clearing. An FRO is a set of ISDA-defined rules for observing a published benchmark and obtaining a floating interest rate that can be used to settle a derivatives contract. Other terms cover calculation rules, calendars and offset conventions.
The list of the codes can change as the market evolves, so firms must have access to a continuously updated set. In the past, market participants had to manually obtain this information and update their systems to stay up to date.
ISDA Reference Data is currently accessible via the ISDA Bookstore, but ISDA aims to provide access in future via an application programming interface.
This will allow the straight-through-processing of updates to a selection of ISDA documentation by permitting a firm’s IT production systems to directly communicate with the ISDA Reference Data platform.
- Floating rate indexes: All FRO names and enhanced metadata included in the 2021 ISDA Interest Rate Derivatives Definitions:
- Full metadata based on the FRO matrix is available for floating-rate indexes in all currencies*.
- Rate administrators: New scheme includes the rate administrators’ names and websites for contact.
- Business centers: Enhanced metadata includes city and country as separate fields.
- Currencies: An explicit list will be published based on the ISDA currency matrix, including name, legal definition and default business centers.
- Publication calendars
- Benchmark rates: New scheme includes benchmark rate names and ISDA definitions.
*The differences between the basic and enhanced metadata fields can be compared by referencing the companion document, which is available on request. Basic metadata is available as free-at-the-point-of-use. Enhanced metadata requires a paid subscription.