irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $0CONFERENCES - CONDUCTED 56 EDUCATIONAL SEMINARS AROUND THE WORLD TO ADVANCE THE KNOWLEDGE AND UNDERSTANDING OF SWAPS AND DERIVATIVES MARKETS.
- #2 $0ANNUAL GENERAL MEETING - ISDA'S ANNUAL GENERAL MEETING AND STRATEGIC PLANNING SESSION PROVIDE FORUMS FOR MEMBERS AND THE BOARD OF DIRECTORS TO EXCHANGE INFORMATION AND IDEAS ABOUT DEVELOPMENTS AFFECTING SWAPS AND DERIVATIVES MARKETS AROUND THE WORLD. A FULLER DESCRIPTION OF ACCOMPLISHMENTS IS AVAILABLE ON THE WEBSITE @ WWW.ISDA.ORG
named programs · 5 · from sources
What they call their work
Common Domain Model (CDM)
Standardized, machine-executable model for representing financial products, trades, and lifecycle events to enhance interoperability and automation in derivatives and collateral management processes.
Digital Regulatory Reporting (DRR)
Transforms regulatory reporting requirements into machine-executable code to reduce compliance costs and improve data quality for derivatives market participants.
ISDA 2020 IBOR Fallbacks Protocol
Facilitates the amendment of derivatives contracts to incorporate new fallbacks for relevant IBORs, supporting global transition away from legacy benchmarks.
ISDA 2021 Fallbacks Protocol
Enables parties to amend derivatives contracts to include fallbacks for benchmarks such as CD 91D, WIBOR, JIBOR, and others during benchmark transitions.
ISDA Resolution Stay Jurisdictional Modular Protocol
Enables financial institutions to comply with regulatory requirements in various jurisdictions by amending agreements to include contractual recognition of resolution stays.
activities · 6 groups
What they do
-
Industry Advocacy and Regulatory Engagement 1 activity
- Advocates for sound derivatives regulation with global policymakersEngages with global policymakers and regulators, including the Basel Committee on Banking Supervision, to promote sound risk management practices and advocate for clear regulatory treatment of derivatives and accounting models.
-
-
Professional Field Knowledge Development 1 activity
- Conducts educational seminars worldwide on swaps and derivatives marketsConducted dozens of educational seminars annually around the world to advance knowledge and understanding of swaps and derivatives markets, as reported in IRS Form 990 filings.
-
-
Professional Conference & Symposium Organization 1 activity
- Hosts global conferences and forums on derivatives and treasury topicsOrganizes and hosts events including the ISDA Derivatives Trading and Treasury Forum, the ISDA/IA Collateral and Liquidity Management event in London, and an annual Canada conference to provide insights on legal and regulatory updates affecting global and Canadian markets.
-
-
Professional Certification and Continuing Education 1 activity
- Offers training and capacity-building programs on derivatives documentationProvides a training masterclass on derivatives documentation and hosts in-person events to build professional capacity in the derivatives industry.
-
-
Member-Exclusive Resource Access 1 activity
- Provides subscription-based access to ISDA-published documents and resourcesOffers a subscription-based online library that enables users to access key documents published by ISDA, supporting market efficiency and transparency.
-
-
Uncategorized 7 activities
- Advances digital regulatory reporting through machine-executable standardsUses the Common Domain Model as the foundation for its Digital Regulatory Reporting (DRR) initiative to convert derivatives trade reporting requirements into machine-executable code, improving regulatory compliance efficiency.
- Conducts pilot programs for CDM-based clearing technologiesLaunched a pilot for CDM-based clearing using DAML in collaboration with Digital Asset to advance automation and interoperability in derivatives clearing.
- Develops and maintains standardized documentation for amending derivative contractsProvides standardized frameworks and supplements—including Benchmark Modules and updates to the ISDA 2006 and 2021 Definitions—that enable parties to amend derivative contracts to include fallback terms for various benchmarks and comply with regulatory requirements.
- Develops and publishes research on derivatives market standards and practicesProduces foundational documentation such as the ISDA Master Agreement, publishes the Common Domain Model (CDM) version 2.0, and tracks market activity including credit default swap volumes and US Treasury repo market clearing indicators.
- Develops and supports digital solutions for derivatives market standardizationDevelops and supports digital tools to standardize and automate key derivatives processes, including collateral management and contract amendment workflows, to improve efficiency and reduce operational risk.
- Facilitates compliance with financial regulations through standardized contract amendmentsEnables market participants to amend financial contracts to comply with U.S. and international regulatory requirements, including Title VII of the Dodd-Frank Act, SEC rules on security-based swaps, U.S. resolution stays, and cross-jurisdictional contractual recognition of stays on termination rights.
- Provides digital tools and AI-powered support for derivatives documentation and inquiriesOffers real-time access to derivatives documentation and industry insights through an AI-powered chatbot and provides 24/7 AI-powered support to assist users with derivatives-related inquiries.
-
financials · form 990 · fy2024
revenue
Total revenue$74.65M
Contributions & grants$00%
Program service revenue$46.61M62%
Investment income$3.53M5%
Other revenue$24.51M
expenses
Total expenses$71.83M
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$40.01M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$154.36M
Cash$50.13M
Investments$32.42M
Liabilities$80.95M
Net assets$73.42M
Liquid reserves13.8 mo
4 years on record · 2020–2024 · YoY revenue +1.8%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 11
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| SCOTT O'MALIA | CHIEF EXECUTIVE OFFICER | 40 | $2.59M |
| STEVE KENNEDY | GLOBAL HEAD OF PUBLIC POLICY | 40 | $885K |
| KATHERINE DARRAS | GENERAL COUSEL | 40 | $881K |
| MARK GHEERBRANT | GLOBAL HEAD OF RISK & CAPITAL | 40 | $873K |
| TARA KRUSE | GLOBAL HEAD, INFRASTRUCTURE | 40 | $719K |
| HUZEFA DEESAWALA | CHIEF FINANCIAL OFFICER | 40 | $667K |
| MARK NEW | CO-HEAD-DIGTL TRANS&SR COUNSEL | 40 | $628K |
| CHRISTOPHER YOUNG | HEAD OF U.S. PUBLIC POLICY | 40 | $627K |
| NICK SAWYER | GLOBAL HEAD OF COMMUNICATIONS | 40 | $609K |
| JING GU | HEAD OF LEGAL, ASIA PACIFIC | 40 | $593K |
| ULRICH KARL | HEAD OF CLEARING SERVICES | 40 | $583K |
board members · 14
- AMY HONG — DIRECTOR
- ANDREW NG — DIRECTOR
- AXEL VAN NEDERVEEN — DIRECTOR, VICE CHAIRMAN
- BRAD TULLY — DIRECTOR (AS OF 4/18/2024)
- CHARLOTTE BRETTE — DIRECTOR
- CHRISTINE CREMEL — DIRECTOR
- DANIEL MAGUIRE — DIRECTOR (THRU 10/1/2024)
- DARCY BRADBURY — DIRECTOR, TREASURER
- DUNCAN RODGERS — DIRECTOR
- EMMANUEL RAMAMBASON — DIRECTOR
- ERIC LITVACK — CHAIRMAN
- ERIK MUELLER — DIRECTOR (AS OF 4/18/2024)
- ESRA TURK — DIRECTOR
- GESA JOHANNSEN — DIRECTOR
relationships · 26
Who they work with
- Actrix Partner — Collaborates with Actrix to produce the ISDA-Actrix US Treasury Repo Market Clearing Indicators.
- BNP Paribas Partner — Successfully tested Digital Regulatory Reporting for CFTC rules in collaboration with ISDA.
- Basel Committee on Banking Supervision Government — ISDA submitted a letter requesting clarification on the treatment of the Risk Mitigation Accounting model under IFRS 9/IFRS 7 for prudential regulatory capital.
- Board of Directors Network — Participates in annual general meeting and strategic planning sessions with members
- Board of Governors of the Federal Reserve System Government — Creates protocols to help market participants comply with U.S. resolution stay regulations issued by the Federal Reserve.
- Commodity Futures Trading Commission Government — Develops protocols to assist market participants in complying with CFTC regulations on swap documentation, clearing, and business conduct standards.
- Digital Asset Partner — Collaborated with ISDA to launch a CDM clearing pilot using DAML.
- FINOS Partner — Hosts the Common Domain Model and develops it through an open governance process.
- Federal Deposit Insurance Corporation Government — Creates protocols to help market participants comply with U.S. resolution stay regulations issued by the FDIC.
- Financial Markets Lawyers Group Partner — Co-developed Annex A to the ISDA Derivatives/FX PB Business Conduct Allocation Protocol for allocating responsibilities between swap dealers.
- Foreign Exchange Committee Partner — Co-developed Annex A to the ISDA Derivatives/FX PB Business Conduct Allocation Protocol for allocating responsibilities between swap dealers.
- ISDA Members Network — Over 1,000 member institutions from 79 countries, including banks, corporations, insurance companies, clearing houses, and law firms.
- ISDA members Network — Global network of over 1,000 member institutions collaborating on derivatives market solutions
- International Academy (IA) Partner — Co-hosts the Collateral and Liquidity Management event with ISDA
- International Capital Market Association Partner — Collaborates with ISDA on developing collateral representations across derivatives, repo, and securities lending.
- International Securities Lending Association Partner — Collaborates with ISDA on developing collateral representations across derivatives, repo, and securities lending.
- LinkedIn Partner — Platform used for promoting ISDA events and engaging with members.
- LinkedIn Partner — Platform used to share updates about upcoming events.
- Office of the Comptroller of the Currency Government — Creates protocols to help market participants comply with U.S. resolution stay regulations issued by the OCC.
- REGnosys Partner — Appointed by ISDA to develop the digital Common Domain Model and co-developed the Digital Regulatory Reporting initiative.
- Sponsored by Partner — Sponsorship relationship for the 2026 ISDA Canada Conference
- U.S. Securities and Exchange Commission Government — Develops protocols to facilitate industry compliance with SEC rulemakings on Security-Based Swaps.
- VERMEG Partner — Integrated the Common Domain Model into its COLLINE Collateral Management System.
- X Partner — Platform used for promoting ISDA events and engaging with members.
- X Partner — Platform used to share updates about upcoming events.
- conferences@isda.org Partner — Point of contact for group registrations from the same firm
strategies · 4
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Education and Knowledge Delivery to Build Market Capacitymethodology: AI-driven knowledge deliveryThrough structured professional education and AI-driven access to derivatives knowledge, ISDA builds expertise and reduces research burdens across market participants because accessible, high-quality learning resources enable safer and more efficient market operations.
- Industry Convening to Drive Adoption of Standards and Regulatory Claritymethodology: industry-conveningBy convening industry participants and aligning stakeholders around legal, regulatory, and operational developments, ISDA advances market stability and promotes widespread adoption of its frameworks because collective engagement fosters trust, shared understanding, and coordinated implementation.
- Standardization to Enhance Market Efficiency and Transparencymethodology: standardization-for-efficiencyBy creating and promoting standardized protocols, documentation, and machine-readable representations of financial trades, ISDA improves efficiency, interoperability, and transparency in derivatives markets because consistent standards reduce operational friction, lower costs, and enable scalable adoption across firms.
- Systemic Risk Mitigation Through Infrastructure and Transparencymethodology: systemic-risk-mitigationBy improving operational infrastructure, increasing transparency, and reducing counterparty credit risk, ISDA contributes to stable financial markets because robust market architecture lowers systemic vulnerabilities and strengthens regulatory frameworks.