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Vol 21 No 11 Nov/Dec 2016

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Practical Derivatives: A Transactional Approach 3rd ed

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Edited by: Edmund Parker, Marcin Perzanowski

ISBN13: 9781911078173
Previous Edition ISBN: 9781905783410
To be Published: January 2017
Publisher: Globe Law and Business
Country of Publication: UK
Format: Hardback
Price: £175.00



Since the near-collapse of the global financial system back in 2008, the derivatives industry has come a long way. As derivatives were blamed for causing, or contributing to, the crisis, the politicians and regulators on both side of the Atlantic (and in most other developed jurisdictions) decided to take action. In September 2009 the G20 leaders at their meeting in Pittsburg resolved the following: “All standardised OTC derivative contracts should be traded on exchanges or electronic trading platforms, where appropriate, and cleared through central counterparties by the end of 2012 at the latest.” Even though it is now 2016, the regulators continue to work on the detailed rules, which still won’t be fully implemented for a while. Nonetheless, the derivatives markets have already changed almost beyond recognition, and continue to evolve.

Featuring updated chapters, this third edition of Practical Derivatives: A Transactional Approach shows how derivatives are used in a variety of transactions, how the documentation works, and why boards need to be aware of the derivatives market. It also analyses the impact of the recent regulatory changes on derivatives transactions and related documentation. With contributions from leading law firms, investment firms and academics, this accessible book takes a transactional approach and features coverage of product innovations.

This latest edition includes chapters on established markets such as equity and energy derivatives, but it also discusses the expansion of derivatives into new markets such as credit risk, weather risk and property. It features topical analysis on corporate governance and directors' duties; it includes an overview of the documentation produced by the International Swaps and Derivatives Association, the International Capital Markets Association and the German banking association; and it discusses related issues such as close-out netting. This edition would not be complete without an analysis of the recent derivatives regulation, and the transactional documentation that helps to implement the new rules.

Whether you are at a bank or financial institution or from a company or organisation looking to invest or manage your risk, this title will provide you with practical tools for using derivatives in your business.

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Subjects:
Banking and Finance
Contents:
Part I: The regulatory and governance environment
Corporate governance and derivatives end users
Proposed regulatory changes of the treatment of OTC derivatives
Regulation and documentation for cleared OTC derivatives

Part II: Documenting and designing derivatives transactions
ISDA agreements
German derivatives documentation
Close-out netting
Designing derivatives structures

Part III: Derivatives, asset classes and corresponding industry documentation
Interest rate derivatives
FX derivatives
Introduction to commodity derivatives
ISDA 2005 Commodity Derivatives
Energy derivatives and hedging strategies
Emissions trading under the Kyoto Protocol
Weather derivatives trading
Introduction to equity derivatives
ISDA 2002 Equity Derivatives Definitions
OTC credit derivatives
Property derivatives