ISLA adds sec lending code to model which digitally represents the trade lifecycle Contribution to the code will the addition of securities loan product and transaction definitions, as well as a settlement and allocation event for a cash settled DVP loan. May 13, 2021 2:02 PM GMT The International Securities Lending Association (ISLA) has contributed code to the open source core domain model (CDM), which its chief executive says will set the backdrop for the future state of the markets. The announcement follows through on an agreement signed between ISLA and the International Swaps and Derivatives Association in July 2020. A CDM encodes a transaction and the subsequent events that can occur explicitly and unambiguously, so that common inputs lead to common outputs throughout the lifecycle of a transaction. The initiative is aimed at enhancing consistency and facilitating interoperability across firms and platforms.