History. Commencing in 2023, EMTA and ISDA, as cosponsors of the 1998 FX and Currency Option Transactions, began to discuss the need for an update of this documentation. This process started with EMTA and ISDA discussions in late 2023 with a goal of a full implementation of the updated FX Definitions (the “New FX Definitions”) by 2027. An important focus anticipated the incorporation of the EMTA Template Terms into the updated New FX Definitions booklet. To this end, commencing June 2025, and for the purposes of an orderly document transition, the EMTA Template Terms were made available on both the EMTA website and on the ISDA website (https://isda.org/book/fx-emerging-markets-documentation/). These documents have now been retired from the EMTA website and will be hosted solely on the ISDA website until the full implementation of the New FX Definitions, at which point they will also be retired from the ISDA website. At that time, the terms for trading NDFs and NDOs will be fully and functionally a part of the new FX Definitions.
EMTA Member Access to FX and Currency Derivatives Documentation. Following their publication and during an implementation period, the New FX Definitions and related documentation will be hosted by ISDA on its website on its myLibrary platform. Until the New FX Definitions are fully implemented, the EMTA Template Terms may be found at https://www.isda.org/book/fx-emerging-markets-documentation/.
Thereafter, to ensure continuing access to the necessary FX forms and terms, EMTA Members will be given complimentary access to the myLibrary area of the ISDA website where the FX Definitions will be posted. Through this complimentary access model, EMTA Members who are not also members of ISDA will see only the new FX Definitions (and not other ISDA standard definitions).
Only representatives of current EMTA Member organizations are eligible for complimentary access under the EMTA Membership umbrella. This access will be reviewed and updated annually based upon EMTA Membership status.
To access the New FX Definitions, EMTA Members should navigate to ISDA’s ISDA MyLibrary – International Swaps and Derivatives Association.
Once there, each EMTA Member representative will need to establish a log-in credential (or, if such EMTA Member is also an ISDA member, enter that credential). Click on the button for a one-year subscription (you will not be charged) and your log-in credential should be recognized for complimentary access.
EMTA Members may contact ISDA directly if they are having any problems logging in.
EMTA Members who are not familiar with ISDA’s myLibrary platform may find useful this video tutorial that was previously prepared by ISDA: https://www.youtube.com/watch?v=xi-YVwe8gec. When reviewing the tutorial, please be reminded that EMTA Members who are not also ISDA members will only be granted access to the New FX Definitions, which is a limited offering of the myLibrary platform.
CURRENT RECOMMENDED EMTA TEMPLATE TERMS (Archived)
These materials have been archived.
STANDARD DEFINITIONS (Archived)
These materials have been archived.