CHAPTER 21OTC Derivatives and Collateral – Legal Protection – Master Agreement and Schedule


The ISDA Master Agreement (IMA) is a commonly used standard for documenting the legal arrangements between two parties that intend trading with one another in a variety of OTC derivative product types, such as interest rate swaps and credit default swaps. The IMA is produced by the International Swaps and Derivatives Association (ISDA) and is designed for use by all organisations that trade in OTC derivatives, around the globe.

Generically, IMAs have been developed and refined over many years to reflect the typically agreed legal terms and conditions that govern bilateral trading relationships in OTC derivatives.

OTC derivatives are used by thousands of companies based in all regions, ...

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