isda meaning in oil and gas

International Swaps and Derivatives Association

The International Swaps and Derivatives Association (ISDA) is a trade organisation of participants in the market for over-the-counter derivatives. It is head quartered in New York, and has created a standardized contract (the ISDA Master Agreement), that two parties sign before they trade derivatives with each other. This Master Agreement is a bilateral agreement. It contains general terms and conditions that apply to all the individual derivative contracts that the two parties may enter into later.