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Answer» What is International Swaps and Derivatives Association mean? The International Swaps and Derivatives Association (ISDA ) is a trade organization of participants in the market for over-the-counter derivatives.It is headquartered in New York City, and has created a standardized contract (the ISDA Master Agreement) to enter into derivatives transactions. In addition to legal and policy activities, ISDA manages FpML (Financial products Markup Language), an XML message standard for the OTC Derivatives industry. ISDA has more than 925 members in 75 countries; its membership consists of derivatives dealers, service providers and end users. reference
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