ISDA and the Association for Financial Markets in Europe (AFME) have published a paper on the EU directive regarding mandatory automatic exchange of information in the field of taxation in relation to reportable, cross-border arrangements (DAC 6).
There is currently a lack of guidance specifically addressing the application of the DAC 6 disclosure hallmarks to financial products. ISDA and AFME have therefore developed this paper to propose a common approach, based on market participants’ understanding of DAC 6 principles.
Although non-binding, the paper is being made publicly available to ensure the analysis and conclusions are transparently disclosed to market participants and to foster dialogue among stakeholders, including government authorities.
Documents (1) for Application of DAC 6 to Financial Products and Services
Latest
Episode 59: Reducing Burdens
As she nears the end of her term as chair of the European Securities and Markets Authority, Verena Ross joins The Swap to discuss progress in simplifying and reducing the burden of EU financial regulation, including transaction reporting. Please view...
CDS Market Dynamics: Record 2025
Global credit default swap (CDS) market activity reached a record $41.8 trillion in 2025, surpassing the previous peak of $38.7 trillion in 2022. Index CDS drove the increase, accounting for 93.3% of total activity and reaching a record $39.0 trillion....
ISDA Letter to CFTC on Public Interest Determinations for Event Contracts
On July 27, ISDA submitted a letter to the U.S. Commodity Futures Trading Commission (CFTC) on the CFTC’s proposed rulemaking on public interest determinations for event contracts published in the Federal Register on June 12, 2026. ISDA emphasized the importance...
ISDA Letter to BCBS on RMA Models
On July 24, ISDA wrote to the Basel Committee on Banking Supervision (BCBS) to request guidance on how the proposed Risk Mitigation Accounting (RMA) model under International Financial Reporting Standard (IFRS) 9/IFRS 7 should be treated for prudential regulatory capital...