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 2026. 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 | Update Commissioned |
| Anguilla | Harneys | Netting, Collateral | Update Commissioned |
| Argentina | Estudio O’Farrell | Netting, Collateral, CM Reliance | Published |
| Armenia | TK & Partners | Netting, Collateral | Published |
| Australia | King & Wood Mallesons | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Austria | Schoenherr Rechtsanwaelte GmbH | Netting, CM Reliance | Update Commissioned |
| DLA Piper Weiss-Tessbach | Collateral | Update Commissioned | |
| Bahamas | Lennox Paton | Netting, Collateral, CM Reliance | Update Commissioned |
| Barbados | Chancery Chambers | Netting, Collateral | Update Commissioned |
| Belgium | DLA Piper | CM Reliance, Client Reliance | Q4 |
| Loyens & Loeff Advocaten – Avocats | Netting, Collateral | Update Commissioned | |
| Bermuda | Appleby | Netting | Update Commissioned |
| Harneys | Collateral, CM Reliance, Client Reliance | Update Commissioned | |
| Brazil | Pinheiro Neto Advogados | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| British Virgin Islands | Harneys | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Bulgaria | Eversheds Sutherland | Netting | Update Commissioned |
| Canada | Osler | Netting, Collateral, CM Reliance | Update Commissioned |
| Canada (Quebec) | Stikeman | Collateral | Update Commissioned |
| Cayman Islands | Maples and Calder | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| 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 | Update Commissioned |
| Costa Rica | Consortium Legal | Netting, Collateral | Published |
| Croatia | Schoenherr Rechtsanwaelte GmbH | Netting, Collateral | Q4 |
| Curacao, Aruba, St. Maarten | Clifford Chance LLP | Netting, Collateral, CM Reliance, Client Reliance | Published |
| Cyprus | Harneys | Netting, Collateral, CM Reliance | Update Commissioned |
| Czech Republic | A&O Shearman | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Denmark | Gorrissen Federspiel | Netting, Collateral, CM Reliance, Client Reliance | Published |
| England and Wales | Linklaters | Netting, Collateral | Update Commissioned |
| A&O Shearman | CM Reliance, Client Reliance | Update Commissioned | |
| Finland | DLA Piper Finland | Collateral | Update Commissioned |
| Hannes Snellman | Netting, CM Reliance, Client Reliance | Update Commissioned | |
| France | Jones Day | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Georgia | Dentons | Netting | Published |
| Germany | Clifford Chance Deutschland LLP | CM Reliance, Client Reliance | Update Commissioned |
| Linklaters | Netting, Collateral | Update Commissioned | |
| Gibraltar | Hassans | Netting | Published |
| Greece | Karatzas & Partners | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Guernsey | Ogier | Netting, Collateral, CM Reliance | Update Commissioned |
| Hong Kong | Linklaters | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Hungary | A&O Shearman | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Iceland | Logos | Netting, Collateral, CM Reliance | Published |
| India | Juris Corp | Netting, Collateral, CM Reliance | Update Commissioned |
| Indonesia | Armand Yapsunto Muharamsyah & Partners | Netting, Collateral | Update Commissioned |
| 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 | Q3 |
| Japan | Linklaters | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Kazakhstan | Dentons Kazakhstan LLP | Netting | Q4 |
| Kazakhstan (AIFC) | Dentons Kazakhstan LLP | Netting | Q4 |
| Jersey | Ogier | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Latvia | Eversheds Sutherland | Netting, Collateral | Q4 |
| Liechtenstein | Gasser & Partner | Netting, Collateral, CM Reliance | Update Commissioned |
| Lithuania | Sorainen | Netting, Collateral | Published |
| Luxembourg | Linklaters LLP | Collateral | Q4 |
| Allen & Overy | Netting, CM Reliance, Client Reliance | Q4 | |
| Malaysia | Shearn Delamore and Co | Netting, Collateral, CM Reliance | Published |
| Malta | Ganado Advocates | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Marshall Islands | Campbell Johnston Clark | Netting | Published |
| Mauritius | Appleby Global | Netting, Collateral, CM Reliance | Q4 |
| Mexico | Ritch Mueller | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Netherlands | NautaDutilh N.V., the Netherlands | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| New Zealand | Bell Gully | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Nigeria | G. Elias & Co | Netting | Published |
| Northern Ireland | Cleaver Fulton Rankin | Netting | Update Commissioned |
| Norway | Wiersholm | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Peru | Echecopar | Netting, Collateral, CM Reliance | Q4 |
| Philippines | Morales & Justiniano | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Poland | A&O Shearman | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Portugal | PLEN Sociedade de Advogados, RL | Netting | Commissioned |
| CARDIGOS e Associados | Collateral, CM Reliance, Client Reliance | Q3 | |
| Qatar (QFC) | Al Tamimi | Netting, Collateral | Published |
| Romania | Leroy si Asociatii | Netting, Collateral, CM Reliance | Q3 |
| Russia | Clifford Chance | Netting, Collateral, CM Reliance | N/A |
| Saudi Arabia | STAT | Netting, Tahawwut Master Agreement Netting, Collateral | Update Commissioned |
| Scotland | CMS Cameron McKenna | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Serbia | Schoenherr | Netting, Collateral | Q4 |
| Singapore | Allen & Gledhill LLP | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| Slovakia | A&O Shearman | Netting | Update Commissioned |
| Slovenia | Šelih & Partnerji | Netting, Collateral, CM Reliance | Update Commissioned |
| South Africa | Bowman Gilfillan Inc. | Netting, Collateral, CM Reliance | Published |
| South Korea | Kim & Chang | Netting, Collateral, CM Reliance | Update Commissioned |
| Spain | Clifford Chance | Netting and Collateral | Q4 |
| Alarde | CM Reliance, Client Reliance | Q4 | |
| Sweden | Wistrand Advokatbyrå Göteborg KB | Netting, CM Reliance, Client Reliance | Update Commissioned |
| Mannheimer Swartling | Collateral | Update Commissioned | |
| Switzerland | Lenz & Staehelin | Netting, Collateral, CM Reliance, Client Reliance | Q3 |
| Taiwan | Russin & Vecchi | Netting, Collateral, CM Reliance | Q4 |
| Thailand | Baker & McKenzie | Netting, Collateral, CM Reliance, Client Reliance | Q4 |
| Turkey | Pekin & Pekin | Netting, Collateral, CM Reliance, Client Reliance | Update Commissioned |
| UAE (ADGM) | A&O Shearman | Netting, Collateral, CM Reliance | Update Commissioned |
| UAE (DIFC free zone) | Clifford Chance | Netting, Collateral | Published |
| UAE (Federal) | Clifford Chance | Netting | Q4 |
| USA | Sidley Austin LLP | Opinions for Insurance Companies (AZ,CT,DE,IL,IN,IA,MA,MN,NY,VA) | Update Commissioned |
| Clifford Chance | Netting, Collateral | Update Commissioned |
* 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.