ISDA Master Agreement

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ISDA Anatomy
incorporating our exclusive ISDA in a NutshellTM
{{{2}}} Resources: 2002 ISDA (wikitext) | 1992 ISDA (wikitext) | 2002 vs 1992 Showdown | 2006 ISDA Definitions | 2008 ISDA | J.C.’s Nutshell ISDA |
Table of Contents | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |

Foundational concepts

Architecture

  • Structure: How it hangs together – Master/Schedule/CSA/Master Confirmations/Confirms
Big drafting issues
Netting
  • The importance of close-out netting
  • Netting opinions
  • Counterparty types
  • Automatic Early Termination
  • Collateral
  • Multibranch parties
Collateral

How the CSA works

  • Title transfer versus pledge
  • “Equivalent” credit support
  • Independent Amounts
  • Changes wrought by regulations for variation margin
  • Valuation of collateral and exposure values
Tax representations
Notices and communications
Definitions booklets
Process issues
  • Capacity and authority
  • Onboarding and AML
  • Static data and netting flags
Who are the stakeholders?
    • Credit
    • Treasury
    • Legal
    • Trading
    • Sales


See also