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 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
September 15, 2011
Market practice statement for dividend adjustments corresponding to Intesa Sanpaolo and Carrefour corporate actions
Market Practice statement with regard to the valuation of dividend amounts on trades referencing certain price return Stoxx indices (including, by way of example, SX5E), for which Intesa Sanpaolo and Carrefour are components, under Annex IDS to the European Dividend Swap Master Confirmation Agreement and Annex IIS to the 2009 European Interdealer Master Equity Derivatives Confirmation Agreement to account for dividend distributions made by Intesa Sanpaolo in relation to the cash dividend of €0.08 which went ex on May 26, 2011 and separately by Carrefour, in relation to its special dividend of DIA shares, which went ex on July 5, 2011.
final ISDA Market Practice Statement Carrefour and Intesa Div Adj 20110913v2.pdf
August 16, 2011
LIFFE Disruption – August 4, 2011
Market consensus on treatment of LIFFE event of August 4, 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_August_2011posted.pdf
April 4, 2011
US Regulation SHO Rule 201
Market practice statement in regard to short sale price limitations triggered under Regulation SHO Rule 201 for U.S. share and index variance swaps
Reg_SHO_201_04-05-2011.docx