SRO List - Credit Derivatives Provision

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2014 ISDA Credit Derivatives Definitions
A Jolly Contrarian owner’s manual™

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Section 2.18 in a Nutshell

Use at your own risk, campers!

Full text of Section 2.18

Section 2.18 SRO List. “SRO List” means the list of Standard Reference Obligations as published by ISDA on its website at from time to time (or any successor website thereto) or by a third party designated by ISDA on its website from time to time.

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A common criticism of the earlier iteration of the credit derivatives definitions from 2003, was their lack of standardisation. It wasn’t clear what Reference Obligations were in and out of scope, and the market lacked liquidity as a result. ISDA leapt into the breach and published detailed tables of standard Reference Obligations, which people could just agree to without having to go onto Bloomberg and copy in the ISIN and so forth. This Standard SRO list is the evolution of that.

Oddly it seems these days to be quite hard to find. If it is on the ISDA website, as it claims, then it is hidden from the prying eyes of non-members, such as the JC.



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See also

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