# 2006 ISDA Definitions

One of many compendious and stupefying booklets containing the minute details of how one calculates for example, Floating Rate Options, should your currency happen to be South African Rand. There were 2000 ISDA Definitions, and they were superseded by the even drearier, more compendious, 2006 ISDA Definitions.

Good work, everyone.

### Genealogy of the Definitions

**1991 ISDA Definitions**: The first set of definitions published by ISDA, covering interest rate and currency derivatives.

**1998 Supplement to the 1991 ISDA Definitions**: A supplement that added new definitions and provisions for interest rate and currency derivatives, such as day count fractions, business day conventions, and compounding methods.

**1998 ISDA Euro Definitions**: A supplement that addressed the introduction of the euro and its impact on interest rate and currency derivatives.

**2000 ISDA Definitions**: An update of the 1991 ISDA Definitions and the 1998 Supplement, incorporating the 1998 ISDA Euro Definitions and adding new definitions and provisions for interest rate and currency derivatives, such as floating rate options, reset dates, and calculation periods.

**2006 ISDA Definitions**: An update of the 2000 ISDA Definitions, adding new definitions and provisions for interest rate and currency derivatives, such as inflation rate options, overnight index swap rates, and non-deliverable cross currency swaps.

**2021 ISDA Interest Rate Derivatives Definitions**: The latest set of definitions published by ISDA, replacing the 2006 ISDA Definitions and introducing new definitions and provisions for interest rate derivatives, such as fallbacks, benchmarks, and compounding in arrears.