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国际掉期交易协会

  	      	      	    	    	      	    
国际掉期交易协会(International Swaps and Derivatives Association,ISDA)
国际掉期交易协会(International Swaps and Derivatives Association,ISDA)

国际掉期交易协会网站网址:http://www.isda.org/

国际掉期交易协会简介

  国际掉期交易协会(International Swaps and Derivatives Association,ISDA)为非营利性组织,成立于1985年,目前有来自46个国家超过600个机构会员,其中包括世界主要从事衍生性商品交易的金融机构政府组织、使用OTC衍生性商品管理事业风险的企业以及国际性主要法律事务所等。

  ISDA自成立以来,在衍生商品品种、ISDA法律文件、净额结算(netting)及担保品(Collateral)方面的法律意见以及风险管理具有显著的贡献或参与。同时也致力于参与各国政府机关维持密切沟通管道,促使这个交易市场更健全发展。

  ISDA,代表了私人谈判衍生品行业中的参与者,根据成员企业数量判断,是最大的全球金融交易协会。ISDA创立于1985年,今天拥有来自56个国家(地区),6个大陆的超过800家成员企业。这些成员包括了世界上绝大多数主要的参与私人谈判衍生品的机构,以及许多的相关业务,政府企业机构,以及其他依赖场外延伸品对其核心经济活动之金融市场风险进行有效管理的终端使用者。(下附原文,若有误欢迎纠正,本翻译版本仅供参考不代表任一方观点。)

  (ISDA, which represents participants in the privately negotiated derivatives industry, is the largest global financial trade association, by number of member firms. ISDA was chartered in 1985, and today has over 800 member institutions from 56 countries on six continents. These members include most of the world's major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities.)

  自其创始,ISDA开创了对衍生品与风险管理业务中对于风险鉴别以及减少风险来源的尝试手段。其最引人瞩目的成就包括:建立了ISDA主协议;发行了广范围的相关文件材料以及包含各种交易类型的工具;提出了仅适用于ISDA成员的对于净额结算以及抵押品安排的可执行性的法律意见;保障了在确定资本要求时对净额结算的风险降低效应的充分认识;提高了稳健的风险管理实践,提升了对衍生品的理解以及处理,以及从公共政策以及资本监管视角出发的风险管理。(下附原文,若有误欢迎纠正,本翻译版本仅供参考不代表任一方观点。)

  Since its inception, ISDA has pioneered efforts to identify and reduce the sources of risk in the derivatives and risk management business. Among its most notable accomplishments are: developing the ISDA Master Agreement; publishing a wide range of related documentation materials and instruments covering a variety of transaction types; producing legal opinions on the enforceability of netting and collateral arrangements (available only to ISDA members); securing recognition of the risk-reducing effects of netting in determining capital requirements; promoting sound risk management practices, and advancing the understanding and treatment of derivatives and risk management from public policy and regulatory capital perspectives.