BizTerm Definition
International Swap Dealers Association
Full Definition

The main body representing swap dealers. Was formed in the early 1980s and holds an annual meeting each year where recent swap market developments and issues are discussed. It also develops guidelines for the swaps markets and products. ISDA controls the master agreement for swaps. This master agreement stipulates the wording of clauses in swap contracts. The body has no legal powers but relies on peer-group pressure and the markets desire for standard codes of behavior.

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