The ISDA Master Agreement has been made available digitally via the ISDA Create service, allowing users to produce and agree the documentation online. The organization’s clause library is part of the package.

ISDA (the International Swaps and Derivatives Association) is producing the service together with law firm Linklaters.

“Originally launched to help firms negotiate initial margin documentation to comply with new margin rules, the platform was extended last year to other documents, including generic amendment agreements to ISDA published documents and an interest rate reform bilateral template package to facilitate the transition to risk-free rates,” ISDA writes in its press release.

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“More than 30 years ago, the launch of the ISDA Master Agreement brought greater standardization and efficiency to the derivatives market. We’re now taking another big step towards improved efficiency by digitizing this foundational document. Bringing the ISDA Master Agreement and the ISDA Clause Library onto ISDA Create means market participants can, for the first time, negotiate the various provisions of this agreement online and electronically consume the resultant legal data automatically,” says ISDA’s general counsel Katherine Tew Darras.