> For the complete documentation index, see [llms.txt](https://adamdavidlong.gitbook.io/lawsnap-guide-to-smart-contracts/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://adamdavidlong.gitbook.io/lawsnap-guide-to-smart-contracts/applications/smart-contract-use-cases/derivatives/laying-the-groundwork-for-smart-derivatives.md).

# Laying the Groundwork for Smart Derivatives

Because of the astronomical amounts of money involved, the industry, acting through its trade association, [ISDA](/lawsnap-guide-to-smart-contracts/people/organizations/isda.md) (for International Swaps and Derivatives Association) has spent the last several years laying the groundwork for using Smart Contracts

ISDA is building up a [library of memos and white papers](https://www.isda.org/2019/10/16/isda-smart-contracts/)  on the legal and practical issues with using Smart Contracts for derivatives contracts and it is the most comprehensive library of papers thinking through the issues.