Equity Derivatives

Useful documentation, relevant matrices, best practice statements, FAQs, memorandums and other useful material pertaining to the equity derivative industry.

For an archive of Equity Derivatives Market Practice Statements, please click here.

PLEASE NOTE:  ISDA does not maintain an exhaustive list of market events.  The events listed below are only those where ISDA has held market discussions and where general consensus was reached as to treatment of a particular event.  Absence of a particular event from the list should not be taken as an indication that the particular day or event is or is not a Disrupted Day,  Market Disruption Event or Pricing Disruption Event. 

As with all market information and guidance that ISDA disseminates, parties are free to choose alternate means of addressing the event. Each market participant remains responsible for considering its own documentation and the specific terms of its own trades and forming its own conclusion on the proper interpretation of events.

DateTitle / DescriptionDocuments
March 28, 2017
Market Disruption Event consensus – 03/20/17 NYSE Arca disruption
September 11, 2014
Advisory Note regarding changes to securities settlement cycles within the European Economic Area (EEA) and Switzerland effective 6 October 2014
http___assets.isda.org_media_5037cc76_26c47939 (1).pdf
July 24, 2014
ISDA Webinar - ABCs of the 2011 Equity Definitions: Focus on the Buyside
ISDA hosted a webinar on the ABCs of the 2011 Equity Definitions: Focus on the Buyside on July 24 to give an overview of the new easy to understand structure and some of the key features.

ABCs of the 2011 Equity Definitions: Focus on the Buyside - Webcast Replay
Equity Matrix Implementation E-Definitions %282014-07%29 v10.pdf DTS %28IndexVolSwap1%29 v24.pdf RS-TS %28IndexVolSwap1%29 v11.pdf MSA %28IndexVolSwap1%29 v9.pdf GTC %28IndexVolSwap1%29 v19.pdf
March 5, 2014
Memorandum — Integration of the Derivatives Markets of the Osaka Securities Exchange Co., Ltd. and the Tokyo Stock Exchange Inc.
Memorandum by Linklaters addressing successor issues under the 2002 ISDA Equity Definitions relating to the integration of the derivatives markets of the Osaka Securities Exchange Co., Ltd. and the Tokyo Stock Exchange, Inc.
A17767516 v2.0 140305_ISDA OSE TSE Deriv Integration Memorandum_LinkD.pdf
August 23, 2013
Market Disruption Event Notification - 8/22/13 NASDAQ halt
ISDA Memo NASDAQ halt.pdf
October 29, 2012
Hurricane Sandy Guidance (second update)
The International Swaps and Derivatives Association, Inc. (ISDA) announces the following guidance for parties to over-the-counter derivative transactions that are affected by the closing of U.S. exchanges on Monday October 29 and Tuesday October 30 due to Hurricane Sandy.
Hurricane Sandy guidance Oct 29 2012.pdf
October 6, 2011
Standardisation 2010 – Final Equity Derivatives Matrix and Legend
2010 Standardisation Matrix / corresponding legend
Equity_Standardisation Matrix - Final June 2010.pdf Standardization Legend - Equity Final.pdf
October 4, 2011
LIFFE Disruption – September 30, 2011
Market consensus on treatment of LIFFE event of September 30, 2011 for FTSE Index Variance Swap transactions which are documented under Revised 2007 European Variance Master Confirmation Agreement and reference LIFFE as the Related Exchange.
LIFFE_Sept 2011.pdf
September 20, 2011
Cross Asset Standardisation Matrix – 2011 templates
2011 Standardisation Matrix templates for Credit, Equity and Interest Rate Derivatives
Cross Asset Standardisation Matrix - 2011 templates.xls
September 20, 2011
Standardisation Legend 2011- Equity- Final
2011 Standardisation Matrix Definitions and Reporting Explanations for Equity Derivatives
Standardization Legend 2011 - Equity - Final.doc