Practical Law Banking and Finance's new Derivatives topic has been supplemented with several important new resources that provide guidance to Australian entities that are drafting and negotiating ISDA® Master Agreements including:

• Practice note, Australianising the ISDA® Master Agreement, which discusses and provides examples of common elections and amendments made to the ISDA® Master Agreement where at least one of the counterparties is an Australian entity.
• Checklist, ISDA® Master Agreement: an Australian end-user negotiation checklist, which provides a checklist of issues that Australian entities should consider when negotiating an ISDA Master Agreement, including a pre-negotiation checklist, a negotiation checklist covering common elections and amendments, and a pre-execution checklist.
• Practice note, Understanding the 2021 ISDA® Interest Rate Derivatives Definitions: key differences between the 2006 Definitions and the 2021 Definitions, which provides guidance on the ISDA’s new Interest Rate Derivatives Definitions.

These new resources have been supplemented by a number of newly published diagrams which explain the key types of over-the-counter (OTC) derivative transactions, including:

• Deal structure: call option.
• Deal structure: cash-settled credit default swap (CDS).
• Deal structure: currency swap.
• Deal structure: forward rate agreement.
• Deal structure: futures contract.
• Deal structure: interest rate swap.
• Deal structure: physically-settled credit default swap (CDS).

We will also be publishing a number of additional derivative resources in the coming weeks and months.

"ISDA" is a registered trademark of the International Swaps and Derivatives Association, Inc (ISDA). ISDA is not a sponsor of Practical Law and had no part in the development of this resource.