ISDA, a framework of reference through standard contracts

ISDA (International Swaps and Derivatives Association INC)

International recognitions in favour of transparency

ISDA has established a framework agreement for derivative transactions between financial institutions.

The framework agreement establishes the definitions and general conditions that regulate derivatives contracted between two financial institutions. The inclusion of OTC derivatives between two financial institutions under the protection of a framework agreement is voluntary but commonly used since all conditions and definitions must be drafted and negotiated whenever an operation is agreed upon.

Different attachments to the framework agreement regulate the specific characteristics of the different derivatives, i.e., swaps, credit derivatives, equity derivatives, etc.

All 3 Andorran banking groups are recognised by ISDA.