The below table provides a high-level summary of the status of updates to ISDA’s netting, collateral and principal-to-principal clearing opinions in 2024. To access the most recent opinions, please visit our opinions library. If you have any questions, please reach out to the appropriate jurisdiction contact listed at the end of the below table.
| Country | Counsel | Opinion Type | Commission Date* |
| Andorra | Cases & Lacambra | Netting | Published |
| Anguilla | Harneys | Netting, Collateral | Q4 |
| Argentina | Estudio O’Farrell | Netting, Collateral, CM Reliance | Q3 |
| Armenia | TK & Partners | Netting, Collateral | Q4 |
| Australia | King & Wood Mallesons | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Austria | Schoenherr Rechtsanwaelte GmbH | Netting, CM Reliance | Update Commissioned |
| DLA Piper Weiss-Tessbach | Collateral | Update Commissioned | |
| Bahamas | Higgs & Johnson | Netting, Collateral, CM Reliance | N/A |
| Barbados | Chancery Chambers | Netting, Collateral | Q4 |
| Belgium | DLA Piper | CM Reliance, Client Reliance | Q4 |
| Loyens & Loeff Advocaten – Avocats | Netting, Collateral | Q4 | |
| Bermuda | Appleby | Netting | Q4 |
| Harneys | Collateral, CM Reliance, Client Reliance | Q4 | |
| Brazil | Pinheiro Neto Advogados | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| British Virgin Islands | Harneys | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Canada | Osler | Netting, Collateral, CM Reliance | Q4 |
| Canada (Quebec) | Stikeman | Collateral | Q4 |
| Cayman Islands | Maples and Calder | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Chile | Carey y Cia Ltda | Netting, Collateral | Q4 |
| China | King & Wood Mallesons | Netting, Collateral, CM Reliance | Update Commissioned |
| Colombia | Pérez-Llorca, Gómez-Pinzón | Netting, Collateral, CM Reliance | Published |
| Costa Rica | Consortium Legal | Netting, Collateral | Q3 |
| Croatia | Schoenherr Rechtsanwaelte GmbH | Netting, Collateral | Q4 |
| Curacao, Aruba, St. Maarten | Clifford Chance LLP | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Cyprus | Harneys | Netting, Collateral, CM Reliance | Q4 |
| Czech Republic | A&O Shearman | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Denmark | Gorrissen Federspiel | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| England and Wales | Linklaters | Netting, Collateral | Q4 |
| A&O Shearman | CM Reliance, Client Reliance | Q4 | |
| Finland | DLA Piper Finland | Collateral | Q4 |
| Hannes Snellman | Netting, CM Reliance, Client Reliance | Q4 | |
| France | Jones Day | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Georgia | Dentons | Netting | Q3 |
| Germany | Clifford Chance Deutschland LLP | CM Reliance, Client Reliance | Q4 |
| Linklaters | Netting, Collateral | Q4 | |
| Gibraltar | Hassans | Netting | Q3 |
| Greece | Karatzas & Partners | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Guernsey | Ogier | Netting, Collateral, CM Reliance | Q3 |
| Hong Kong | Linklaters | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Hungary | A&O Shearman | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Iceland | Logos | Netting, Collateral, CM Reliance | Q4 |
| India | Juris Corp | Netting, Collateral, CM Reliance | Update Commissioned |
| Indonesia | Armand Yapsunto Muharamsyah & Partners | Netting, Collateral | Q4 |
| Ireland | McCann Fitzgerald | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Israel | Yigal Arnon & Co. | Collateral | Update Commissioned |
| Meitar Liquornik Geva Lesham Tal | Netting, CM Reliance | Update Commissioned | |
| Italy | A&O Shearman | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Japan | Linklaters | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Kazakhstan | Dentons Kazakhstan LLP | Netting | Update Commissioned |
| Jersey | Ogier | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Latvia | Eversheds Sutherland | Netting, Collateral | Q4 |
| Liechtenstein | Gasser & Partner | Netting, Collateral, CM Reliance | Update Commissioned |
| Lithuania | Sorainen | Netting, Collateral | Q3 |
| Luxembourg | Linklaters LLP | Collateral | Q4 |
| Allen & Overy | Netting, CM Reliance, Client Reliance | Q4 | |
| Malaysia | Shearn Delamore and Co | Netting, Collateral, CM Reliance | Q4 |
| Malta | Ganado Advocates | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Marshall Islands | Campbell Johnston Clark | Netting | Update Commissioned |
| Mauritius | Appleby Global | Netting, Collateral, CM Reliance | Update Commissioned |
| Mexico | Ritch Mueller | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Netherlands | NautaDutilh N.V., the Netherlands | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| New Zealand | Bell Gully | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Nigeria | G. Elias & Co | Netting | Q3 |
| Northern Ireland | Cleaver Fulton Rankin | Netting | Published |
| Norway | Wiersholm | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Peru | Baker & McKenzie | Netting, Collateral, CM Reliance | Q4 |
| Philippines | Morales & Justiniano | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Poland | A&O Shearman | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Portugal | PLEN Sociedade de Advogados, RL | Netting | Q3 |
| CARDIGOS e Associados | Collateral, CM Reliance, Client Reliance | Published | |
| Qatar (QFC) | Simmons & Simmons | Netting | Published |
| Romania | Leroy si Asociatii | Netting, Collateral, CM Reliance | Q4 |
| Russia | Clifford Chance | Netting, Collateral, CM Reliance | N/A |
| Saudi Arabia | STAT | Netting, Tahawwut Master Agreement Netting | Published (New) |
| Scotland | CMS Cameron McKenna | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Serbia | Schoenherr | Netting, Collateral | Update Commissioned |
| Singapore | Allen & Gledhill LLP | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Slovakia | A&O Shearman | Netting | Q4 |
| Slovenia | Boštjan Špec, odvetnik | Netting, Collateral, CM Reliance | Q4 |
| South Africa | DLA Piper | Netting, Collateral, CM Reliance | Published |
| South Korea | Kim & Chang | Netting, Collateral, CM Reliance | Q4 |
| Spain | Clifford Chance | Netting and Collateral | Q4 |
| Alarde | CM Reliance, Client Reliance | Q4 | |
| Sweden | Wistrand Advokatbyrå Göteborg KB | Netting, CM Reliance, Client Reliance | Q4 |
| Mannheimer Swartling | Collateral | Q4 | |
| Switzerland | Lenz & Staehelin | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Taiwan | Russin & Vecchi | Netting, Collateral, CM Reliance | Update Commissioned |
| Thailand | Baker & McKenzie | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Turkey | Pekin & Pekin | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| UAE (ADGM) | A&O Shearman | Netting, Collateral, CM Reliance | Update Commissioned |
| UAE (DIFC free zone) | Clifford Chance | Netting | Update Commissioned |
| UAE (Federal) | Clifford Chance | Netting | Update Commissioned |
| USA | Sidley Austin LLP | Opinions for Insurance Companies (AZ,CT,DE,IL,IN,IA,MA,MN,NY,VA) | Q4 |
| Clifford Chance | Netting, Collateral | Q4 |
* The date refers to the period the update to the opinion will be commissioned.
ISDA Contacts
If you require further information on any of the above jurisdictions, please contact the relevant contact below for your jurisdiction of interest.
Europe, the Middle East & Africa – Flavia Lima-McCulloch
Americas – Fred Quenzer
Australasia – Jing Gu and Monica Chiu
For general opinion queries, please contact Flavia Lima-McCulloch and Breda Walsh.