DRR Working Group Terms of Reference

1 January 2026

1. Establishment and mandate

The Digital Regulatory Reporting (DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data.) Working Group (the “Working Group”) is reconstituted as a single, consolidated DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Working Group operating under the strategic oversight of the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Steering Group (the “Steering Group”). This restructure aligns DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. governance with the Common Domain Model (CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source.) Working Group operating model and establishes GitHub as the primary mechanism for agenda and issue management.

1.1 Rationale for transition

ISDAISDA International Swaps and Derivatives Association. The global trade association for participants in the derivatives markets. is transitioning to this consolidated Working Group model to strengthen the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. governance framework in preparation for expanded joint industry work, including increased coordination with industry partners such as ISLA and ICMA, and to support upcoming and evolving reporting jurisdictions that include a wider range of in-scope products, including OTC derivatives and other product classes. A single, globally consistent Working Group with transparent GitHub-based workflows will better enable multi-association collaboration, shared design discussions, and scalable contribution practices as DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. adoption and scope evolve.

The DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Working Group is established to provide practical, multijurisdictional delivery support to the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. initiative by translating Steering Group priorities into executable workstreams, technical outcomes, and implementable artefacts across the global derivatives market. The Working Group serves as an implementation-focused forum for adoption and non-adoption entities, reporting service providers, and other stakeholders to identify, discuss, evaluate, prioritise and progress DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. projects, enhancements, maintenance and adoption activities in a transparent and globally consistent manner.

The Working Group’s overarching objective is to promote safe, transparent, accurate and efficient regulatory reporting practices through delivery and continuous improvement of the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. model. To achieve this, the Working Group will:

• Operate in the same format as CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source. Working Groups, chaired by ISDAISDA International Swaps and Derivatives Association. The global trade association for participants in the derivatives markets.
• Manage the agenda and priorities through the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. GitHub Projects page, with priorities set by the Chair in consultation with members and aligned to DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Steering Group direction;
• Provide a forum for all contributors to raise and review pull requests and issues directly in GitHub, ensuring traceability, transparency, and consistency of the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. contribution process
• Allocate dedicated agenda time for multi-lateral design discussions and community-wide questions from participating firms
• Draft, validate and propose enhancements to DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. logic, code and associated artefacts for DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Steering Group review and escalation where needed
• Identify implementation issues, interpretive questions, and adoption blockers, and propose solutions for industry consideration
• Contribute to DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. education through playbooks, examples, implementation notes and knowledge-sharing sessions.

The DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Working Group, as shown in the diagram, is intended to function as equivalent to other Domain Working Groups within the broader FINOSFINOS Fintech Open Source Foundation. A nonprofit organization that brings together the global financial services industry to collaboratively build open‑source software, standards, and best practices. Working Group structure, enabling items impacting CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source. design or contribution to be raised ultimately through the FINOSFINOS Fintech Open Source Foundation. A nonprofit organization that brings together the global financial services industry to collaboratively build open‑source software, standards, and best practices. CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source. Contribution Review Working Group (CRWG). Initial interaction with CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source. WGs will likely occur at the Domain WG level e.g. product enhancements may go to the Derivatives WG or ISLA/ICMA WGs or collateral enhancements may go to the Collateral WG.

1.2 Key benefits of this approach

• Alignment of the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. contribution process with CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source., enabling standardisation and greater process efficiency
• Familiarisation of DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. member firms with CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source. working practices, ensuring global consistency and minimising the learning curve as they progress to CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source. adoption
• Simplified governance through a single global DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Working Group forum under the Steering Group
• Enhanced transparency and multi-regional coordination through GitHub-based backlog and agenda management.

2. Participation and consensus

2.1 Open participation

Participation in the Working Group is open to all interested stakeholders across adoption entities, service providers, infrastructure providers, relevant industry association, and other parties with a legitimate interest in DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. adoption, implementation and maintenance. ISDAISDA International Swaps and Derivatives Association. The global trade association for participants in the derivatives markets. will maintain a participant list and may invite subject-matter experts to relevant discussions as required.

2.2 Consensus and recommendations

The Working Group operates in a consultative and delivery capacity and does not hold final decision-making authority. The Working Group will seek to achieve majority-based consensus to form recommendations, technical outputs, and proposed deliverables for ISDAISDA International Swaps and Derivatives Association. The global trade association for participants in the derivatives markets. consideration and escalation to the Steering Group where needed.

Where majority consensus cannot be achieved, the Chair may:

• Defer the matter for further analysis and re-discussion; and/or
• Escalate the matter to the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Steering Group or relevant DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. governing bodybody The organisation or authority that issues the regulatory or technical document the model is based on e.g. a regulator (CFTC, ESMA) or a standard‑setting organisation (CPMI–IOSCO). for review or determination.

3. Meetings

3.1 Frequency

Meetings shall be held fortnightly on an alternate-week cadence to the FINOSFINOS Fintech Open Source Foundation. A nonprofit organization that brings together the global financial services industry to collaboratively build open‑source software, standards, and best practices. CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source. CRWG, enabling ongoing alignment and collaboration. Additional ad-hoc sessions may be convened as required by program milestones, UAT cycles or emerging issues.

3.2 Recording and minutes

Meetings may be recorded by ISDAISDA International Swaps and Derivatives Association. The global trade association for participants in the derivatives markets. and AI-generated transcripts may be used to assist minute-taking. Minutes shall:

• Summarise discussions, key points, and actions
• Be circulated within a reasonable timeframe
• Be archived in a designated repository by ISDAISDA International Swaps and Derivatives Association. The global trade association for participants in the derivatives markets.

3.3 Agenda, inputs and outputs

A standing agenda and materials, together with relevant inputs and outputs for each meeting, shall be prepared in advance of each meeting and published via the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. GitHub Projects page. Working Group participants will be invited to propose agenda items or topics for upcoming meetings at least two days prior to each scheduled meeting, either through GitHub issues or directly to the Chair. Issues/topics raised after that may still make it into the meeting time, but this is not guaranteed.

Key outputs include, as applicable:

• GitHub issues capturing questions, defects and enhancement requests
• Pull requests for DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. logic, code, models, tests, and documentation
• Design notes and interpretive guidance arising from multilateral discussions
• Recommendations for DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Steering Group consideration

4. Confidentiality

Participants shall maintain the confidentiality of non-public information disclosed during meetings, except where disclosure is required by law or expressly authorised by ISDAISDA International Swaps and Derivatives Association. The global trade association for participants in the derivatives markets. or the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Steering Group. Materials shared through the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Working Group shall not be used for commercial or competitive purposes.

5. Competition law compliance

All participants shall comply with applicable competition and antitrust laws. Participants agree not to exchange competitively sensitive information, discuss individual pricing or strategic commercial decisions, use the Working Group to reach any anticompetitive understanding, or otherwise coordinate market conduct. Each participant acts independently in all business decisions.

6. Record keeping and transparency

ISDAISDA International Swaps and Derivatives Association. The global trade association for participants in the derivatives markets. will maintain records of:

• Participation and attendance
• Agendas, minutes, and actions
• GitHub Projects backlogs, issues, pull requests and associated artefacts
• Written recommendations or outputs escalated to the DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Steering Group

7. Amendments and review

These Terms of Reference may be reviewed and amended periodically by ISDAISDA International Swaps and Derivatives Association. The global trade association for participants in the derivatives markets. to ensure continued relevance, alignment with DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Steering Group direction, CDMCDM Common Domain Model. A standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle. It is represented as a domain model and distributed in open source./FINOSFINOS Fintech Open Source Foundation. A nonprofit organization that brings together the global financial services industry to collaboratively build open‑source software, standards, and best practices. governance and industry needs.

8. Effective date

These Terms of Reference are effective as of 1 January, 2026, and supersede any prior DRRDRR Digital Regulatory Reporting. An industry‑developed, machine‑executable interpretation of regulatory rules that produces consistent, transparent and fully traceable reporting outputs from standardised CDM data. Working Group terms.