The International Swaps and Derivatives Association (ISDA) has launched a request for proposal to develop a trade reporting eligibility tool for use alongside its Digital Regulatory Reporting (DRR) solution. The proposed tool would assess whether a derivatives transaction must be reported, which counterparty is responsible and the applicable reporting deadline. It would use an interpretation agreed by an ISDA working group to address differences in firms’ individual assessments. This would complement the recently launched DRR Tracer Agent, which traces the reasoning behind reporting interpretations and coding decisions. Every conclusion should have a full evidence trail citing specific regulatory provisions and relevant working group discussions. Assessments should account for counterparty and jurisdictional links, product scope and conditional exemptions, and reporting responsibility and lifecycle timing, including events that must not be reported. The tool should cover all reporting regimes supported by DRR and accommodate future rule changes. ISDA has committed to supporting 14 reporting rule sets across nine major jurisdictions. The tool would not make final legal eligibility determinations, and any firm configurations or overrides must remain clearly distinguishable from ISDA’s common interpretation. Proposals are due December 31, 2026, with a selection decision expected no later than January 31, 2027.
ISDA seeks proposals to develop derivatives trade reporting eligibility tool
ISDA is seeking proposals for a tool to assess whether derivatives transactions must be reported, by whom and by when, using a common industry interpretation. The tool would provide auditable conclusions and support clearly distinguished firm overrides, without making final legal eligibility determinations. Proposals are due December 31, 2026, with a decision expected by January 31, 2027.