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Collateral

Increasing efficiencies within the collateralization process for OTC derivatives transactions through standards, best practices, enhanced risk mitigation, and collateral law reform efforts.

This page also contains documents for the Standard Credit Support Annex (SCSA), which seeks to standardize market practice regarding embedded optionality in current CSAs, promote the adoption of overnight index swap discounting for derivatives, and align the mechanics and economics of collateralization between the bilateral and cleared OTC derivative markets.


DateTitle / DescriptionDocuments
February 15, 2013
Best Practices for the OTC Derivative Collateral Electronic Margin Messaging Process
Provides guidelines to ease implementation of electronic margin message communication. These Best Practices focus on integration and counterparty on-boarding as well as specific margin call scenarios. The document is purposely vendor agnostic and the practices are applicable regardless of the vendor selected.
ISDA Collateral Electronic Messaging 2013-02-15.pdf
May 22, 2012
Slide presentation about the SCSA
The Standard Credit Support Annex (SCSA or Standard CSA) seeks to standardize market practice regarding embedded optionality in current CSAs, promote the adoption of overnight index swap discounting for derivatives, and align the mechanics and economics of collateralization between the bilateral and cleared OTC derivative markets. Additionally, the SCSA seeks to create a homogeneous valuation framework, reducing current barriers to novation and valuation disputes. (This is an update of the original, dated November 2011.)
SCSA Media Slides 11 2 2011 (revised).pdf
May 17, 2012
Blended Rate for ISDA Standard CSA
Blended Rate for ISDA Standard Credit Support Annex 5.pdf
May 10, 2012
Summary Results of Annual Survey of Collateral Use in OTC Derivatives in the Japanese Market
ISDA Japan Annual Collateral Survey 2012 (English)
JP Survey results_English Summary_May_2012 FINAL.pdf
May 9, 2012
Rate Selection for ISDA Standard CSA
Rate Selection for ISDA Standard Credit Support Annex 6.pdf
November 30, 2011
OTC Derivatives Collateral Process
Best Practices
2011 ISDA Best Practices for the OTC Derivatives Collateral Process - 30 Nov 2011 FINAL.pdf
June 30, 2011
2011 Roadmap for Collateral Management
2011 ISDA Roadmap for Collateral Management - 30 June 2011[1].pdf
April 27, 2011
2011 Formal Market Polling Procedure and 2011 Convention on Portfolio Reconciliation and the Investigation of Disputed Margin Calls
Notice / Pre-Publication Draft / Polling Procedure links to the right. The ISDA Collateral Dispute Resolution Documents (as defined in the Notice attachment) are work in progress drafts that are subject to substantive change and may be withdrawn by ISDA in whole or part.
April-27.pdf ICM-#12499158-v6-Draft_ISDA_2011_Dispute_Resolution_Convention_-_pre-publication_draft.pdf ISDA-Formal-Market-Polling-Procedure _27-April-2011-Draft.pdf
April 7, 2011
2011 Convention on Portfolio Reconciliation and the Investigation of Disputed Margin Calls
Pre-publication draft / notice links to the right.. The ISDA Collateral Dispute Resolution Documents (as defined in the notice attachment) are work in progress drafts that are subject to substantive change and may be withdrawn by ISDA in whole or part.
ICM-#12499158-v3-Draft_ISDA_2011_Dispute_Resolution_Convention_-_pre-publication_draft.pdf 2011 Convention on Portfolio Reconciliation - notice.docx
January 3, 2011
Asia Pacific Collateralized Portfolio Reconciliation
Memorandum of Understanding
asiapacific_mou.html
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