The
International Swaps and Derivatives Association (
ISDA) is a trade organization of participants in the market for over-the-counter derivatives. It is headquartered in
New York, and has created a standardized contract (the
ISDA Master Agreement) to enter into
derivatives transactions. In addition to legal and policy activities, ISDA manages
FpML (Financial products Markup Language), an
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standard for the OTC Derivatives industry. ISDA has more than 820 members in 57 countries; its membership consists of derivatives dealers, service providers and end users.