In Dexia S.A. v Comune di Torino [2025] EWHC 1903 (Comm), the High Court of Justice of England and Wales has provided important guidance on the standard jurisdiction clause in the 1992 ISDA Master Agreement. In particular, Butcher J’s summary judgment upholds the ISDA jurisdiction clause as (i) exclusive vis-à-vis the signatories to the 2005 Hague Convention and (ii) sufficiently wide in scope to cover contractual and extra contractual claims, as well as claims under separate but related contracts. This decision materially reduces the risk of parallel proceedings and, as a result, provides significant reassurance to derivatives dealers.

Our Debt Capital Markets Focus Team breaks down these new measures here.