ISDA published opening remarks by Chief Executive Scott O’Malia setting out priorities for digital transformation in the derivatives market, with a focus on replacing manual, paper-based back-office processes and fragmented legacy systems with industry-wide standards and automation to reduce cost, errors and operational risk. The speech highlighted the Common Domain Model (CDM) as ISDA’s open-source standard for financial products, trades and lifecycle events and as the foundation for its Digital Regulatory Reporting (DRR) initiative. DRR uses an industry working group to agree a common interpretation of each jurisdiction’s reporting requirements and converts that interpretation into machine-executable code that firms can use to implement rules or validate their own interpretation, with ISDA committed to supporting 11 reporting rule sets across nine major jurisdictions and updating the code as rules change. On documentation, ISDA MyLibrary hosts over 160 derivatives documents and versions in digital form, while ISDA Create, available via S&P Global Market Intelligence’s Counterparty Manager platform, supports digital negotiation and execution of derivatives contracts and captures legal data to improve access to negotiated terms. ISDA also said it is preparing to launch the ISDA Notices Hub in mid-2025 to support instantaneous delivery and receipt of termination-related notices and maintain updated address details where physical delivery remains necessary.

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