ISDA offered additional guidance on documentation for the OTC derivatives market in the event of a "no deal" Brexit.
ISDA stated that the earliest date on which a "no deal" Brexit could occur is October 31, 2019. However, Brexit could be delayed if (i) the UK government approves the withdrawal agreement and it is implemented in both the United Kingdom and the European Union, (ii) the United Kingdom proposes extending the two-year withdrawal period under certain provisions of the Treaty of the European Union ("TEU") and the European Council agrees to the extension, or (iii) the United Kingdom rescinds the provision under the TEU allowing for an extension.
The ISDA FAQs address:
ISDA provided guidance on post-Brexit cross-border financial services for UK market participants.