The paper provides guidance on bringing the benefits of distributed ledger technology to the ISDA documentation architecture.

The International Swaps and Derivatives Association ("ISDA") has published the first in a series of legal guidelines for smart derivatives contracts. These guidelines aim to support developers who are applying distributed ledger technology solutions to derivatives transactions. It explains the core principles of ISDA documentation to raise awareness of the important legal terms that should be maintained when a technology solution is applied to derivatives trading.

The intention of this paper is not to specify or recommend any particular approach or to address any particular technological application or project, but rather to provide high-level guidance on the legal documentation and framework that currently governs derivatives trading. It is designed to assist developers with addressing the challenges of bringing the benefits of distributed ledger technology to the lifecycle of derivatives transactions without disrupting the legal foundations on which the ISDA documentation architecture is based.

Jones Day contributed to the preparation of these ISDA Legal Guidelines for Smart Derivatives Contracts.

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