International Swaps and Derivatives Association (ISDA)

The International Swaps and Derivatives Association (ISDA) is a trade organization created by the private negotiated derivatives market that represents participating parties. This association helps to improve the private negotiated derivatives market by identifying and reducing risks in the market. For nearly three decades the industry has used the ISDA master agreement as a template for entering into contractual obligation for derivatives, creating a basic structure and standardization where there were only bespoke transactions before.