ISDA and EMTA publish the 2026 FX Definitions: What you need to know now

20 March 2026

The new 2026 FX Definitions were published by ISDA and EMTA on 3 March 2026 and will be adopted as the market standard definitions for FX transactions from 22 November 2027.  This interval is intended to provide market participants with sufficient time to update their systems and prepare for the transition.

In this briefing, we provide a high-level overview of the key features of the new definitions and consider what market participants need to know now, as they begin to assess the scope and timing of their implementation programmes.

Download PDF