Ever forward thinking, ISDA has just published the digital version of their Common Domian Model (CDM), opening the way for member testing and feedback. Once implemented, the CDM will be a critical structural aspect of more efficient future derivatives systems.
The International Swaps and Derivatives Association, Inc. (ISDA) has published an initial digital representation of the Common Domain Model (CDM), opening the way for all ISDA members to access and test the model on various new technologies. The ISDA CDM 1.0 provides a standard digital representation of events and actions that occur during the life of a derivatives trade, expressed in a machine-readable format. Using this common standard will enhance consistency and facilitate interoperability across firms and platforms, irrespective of the programing language ultimately used for each technology. The ISDA CDM is intended to provide an industry standard blueprint for how derivatives are traded and managed across the lifecycle, and how each step in the process can be represented in an efficient, standardized fashion.