The ISDA CDM (Common Domain Model) is a standardised, machine-readable data and process model for derivatives and other financial transactions, published by the International Swaps and Derivatives Association. It provides a single, consistent representation of trade events, lifecycle processes, and legal terms so that disparate systems and smart contracts interpret them identically. It is foundational to interoperable enterprise tokenisation and automated post-trade processing on distributed ledgers.
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- By defining events, products, and processes once, the CDM removes the reconciliation overhead of bespoke representations and lets smart contracts execute lifecycle actions deterministically. It is a key enabler of tokenised derivatives and automated, auditable post-trade workflows.