The International Swaps and Derivatives Association (ISDA) has opened the general adherence phase for the ISDA 2025 – 2002 Equity Derivatives Definitions (Versionable Edition) Protocol, allowing counterparties to amend equity derivatives master confirmation agreements to incorporate the 2002 ISDA Equity Derivatives Definitions (Versionable Edition) instead of the existing 2002 ISDA Equity Derivatives Definitions. The protocol has an effective date of October 26, 2026. ISDA said using the versionable edition will allow transactions to automatically reference the latest version of the definitions in force on the trade date, reducing the need for bilateral renegotiation when new standardised provisions are introduced. ISDA also advised adherents to align the date they incorporate the versionable definitions into long-form or standalone equity confirmations with the protocol effective date to keep confirmation workflows, including electronic confirmations, aligned under the same definitional booklet.
ISDA 2025-10-27
International Swaps and Derivatives Association opens general adherence to protocol to adopt versionable 2002 equity derivatives definitions from October 2026
The International Swaps and Derivatives Association (ISDA) has initiated the general adherence phase for the ISDA 2025 – 2002 Equity Derivatives Definitions (Versionable Edition) Protocol, effective October 26, 2026. This update allows transactions to reference the latest definitions automatically, minimizing bilateral renegotiations. ISDA recommends aligning the incorporation date with the protocol's effective date for consistency in confirmation workflows.