Swaps and derivatives have become a vital tool in risk management and structured financings and are used by an ever-increasing number of banks, financial institutions and corporations. From the basic swap structure a wide range of complex instruments have developed.
Swaps are legally complex and have been the cause of major litigation. To protect all the parties involved, transactions must be properly documented. Lawyers and documentation staff need to understand both the products, the legal issues and effective documentation techniques.
This course will provide you with an in-depth analysis of the role of, and the critical legal issues relating to, OTC derivatives in the financial markets. We will do a detailed clause-by-clause analysis of the 1992 and 2002 ISDA® Master Agreements, including a discussion on the implications for derivatives in the financial crisis.
You will learn:
- What swaps are and how they work
- Understanding the Master Agreement
- The significance of every clause in the Agreement
- How to complete the Schedule to the documentation
- How to draft clauses to meet special situations
- How to deal with insolvency and close-out netting
- The risks in credit exposure and techniques for credit enhancement
- How to assess the capacity of the counterparty
- The significance of major swaps litigation
- Complimentary documentation
Course fees include copies of the following publications, purchased on delegates' behalf from ISDA:
- 2002 ISDA Master Agreement (Multicurrency-Cross Border)
- 1996 ISDA Credit Support Annex (Transfer-English Law)
This course are neither endorsed by, nor affiliated with, ISDA. ISDA is a registered trade mark of the International Swaps and Derivatives Association.
This course is an objective and impartial analysis of ISDA documentation