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JC - Legal Updates - 2021 ISDA Definitions-effective 4th October 2021

Legal Updates

06 Oct 2021

2021 ISDA Definitions-effective 4th October 2021

The International Swaps and Derivatives Association, Inc. (“ISDA”) has published its 2021 ISDA Interest Rate Derivatives Definitions, effective 4th October 2021 (“2021 Definitions”).

It consolidates the 2006 ISDA Definitions and its supplements into a single digital booklet. The digital form will eliminate the need for any supplements, as was the case in 2006 Definitions.

The 2006 Definitions going forward will no longer be updated (except for the amendments already in the pipeline, if any).

While the 2021 Definitions are effective, the 2006 Definitions have not been withdrawn completely. This is to cater to the users who are not prepared for the switch and ensure the transition is achieved in a non-disruptive and phased manner.


For any further information, please contact Ms. Smrithi Nair (smrithi.nair@jclex.com) or Ms. Aashka Shah (aashka.shah@jclex.com).