The Credit Derivatives Determinations Committees (DCs) are established pursuant to contractual arrangements, which currently include the 2014 ISDA Credit Derivatives Definitions published by the International Swaps and Derivatives Association, Inc. for the purpose of making market-wide determinations that impact Credit Derivatives Transactions. The structure and operation of each DC is governed by the Credit Derivatives Determinations Committees Rules (DC Rules).
The Credit Derivatives Governance Committee (Governance Committee) was created in July 2025 with responsibility, among other things, for overseeing the operation of the DCs and making changes to the DC Rules from time to time.
The objective of the Governance Committee is to provide senior leadership and commercial direction and governance of the DCs in order to facilitate the efficient operation of the credit derivatives market by developing and maintaining a framework for timely, accurate and uniform DC determinations that are relied upon and trusted by the credit derivatives market and for the efficient settlement of Credit Derivative Transactions.
The Governance Committee is comprised of senior representatives of the credit derivatives market, including from such functions as operations, sales, trading, risk and other management positions.
Updates to the DC Rules are published here.