The ISDA Initial Margin Self-Disclosure Letter, published on July 11, 2018, is intended to enable market participants to provide advance notice to counterparties that they wish to target a future initial margin phase-in date for purposes of preparing for initial margin requirements in either September 2019 or 2020, or that they do not expect to be in scope for either of the phase 4 or 5 regulatory phase-in dates for the initial margin rules. The Letter is drafted as an indicative notification and does not require market participants to make any representation as to their regulatory status.