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OverviewMarked by the establishment of ISDA in 1985, derivatives have become an indispensable, integral and deeply embedded part of the international financial markets. The new global regulatory framework instituted following the 2008 financial crisis was accompanied by a series of operational, commercial and documentation changes, which has made the derivatives markets stronger, safer and more resilient. However, a deeper and more robust product and regulatory understanding of the derivatives market is more important than ever. This fourth edition of Practical Derivatives: A Transactional Approach features a number of new chapters analysing the latest trends in the following areas: the rise of derivatives referencing cryptocurrencies and other digital assets, and the emerging regulatory framework on both sides of the Atlantic; the slow but steady move to assets meeting the Environmental, Social and Governance (ESG) criteria in the area of derivatives and structured products; the completion of the regulatory framework for cleared and OTC derivatives; the development of non-English/New York law derivatives documentation; and the emergence of new structures in the securities finance world. It also includes updated chapters explaining how derivatives are used in the practical context, how the documentation works and any pitfalls for the unwary. It provides real-life tips for the application and negotiation of transactions referencing: 2021 ISDA Interest Rate Derivatives Definitions; 2014 ISDA Credit Derivatives Definitions; 2002 ISDA Equity Derivatives Definitions; 2005 ISDA Commodity Definitions; Regulatory IM and VM documentation; and The principal repo and stock lending forms of agreement. With contributions from leading law firms, investment firms and academics, this accessible book takes a transactional approach and features coverage of product innovations. Whether you are at a bank, asset manager, pension fund, insurance company or other financial institution; from a company or organisation looking to invest or manage your risk; or involved in providing advisory services to these entities, this title will provide you with practical tools for using derivatives in your business. Full Product DetailsAuthor: Edmund Parker , Marcin PerzanowskiPublisher: Globe Law and Business Ltd Imprint: Globe Law and Business Ltd Edition: 4th New edition ISBN: 9781787428423ISBN 10: 1787428427 Pages: 728 Publication Date: 24 January 2023 Audience: Professional and scholarly , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: In Print  This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us. Table of ContentsPreface 7 Edmund Parker Mayer Brown Marcin Perzanowski Simmons & Simmons Part I: The regulatory environment Overview of EU/UK derivatives regulation: EMIR, MiFID and UK rules 9 Tom Harkus Harmed Pourzadeh Igor Zyskind Simmons & Simmons Matthew Hebburn Solicitor Initial margin requirements for non-centrally cleared derivatives 29 Guy Antrobus Emma Lancelott Allen & Overy Variation margin requirements for non-centrally cleared derivatives 69 Matthew Hebburn Solicitor Part II: Documenting and designing derivatives transactions Overview of industry standard documentation 83 Guy Usher Fieldfisher Introduction to repo and stock lending documentation 107 Jonathan Haines Ashurst LLP Documentation for cleared OTC derivatives 129 Patrick Scholl Mayer Brown Introduction to German derivatives documentation 149 Patrick Scholl Mayer Brown Designing derivatives structures 165 John D Finnerty Fordham University Rachael W Park AlixPartners LLP Part III: Derivatives, asset classes and corresponding industry documentation a) Commodity derivatives Introduction to commodity derivatives 189 Edmund Parker Mayer Brown Marcin Perzanowski Simmons & Simmons Overview of the 2005 ISDA Commodity Definitions 219 Edmund Parker Mayer Brown Marcin Perzanowski Simmons & Simmons Emissions trading 273 Tim Baines Edmund Parker Mayer Brown Energy derivatives and hedging strategies 303 Cyriel de Jong KYOS b) Equity derivatives Introduction to equity derivatives 321 Edmund Parker Mayer Brown Marcin Perzanowski Simmons & Simmons Overview of the 2002 ISDA Equity Derivatives Definitions 359 Edmund Parker Mayer Brown Marcin Perzanowski Simmons & Simmons c) Credit derivatives Introduction to credit derivatives 441 Edmund Parker Mayer Brown Overview of the 2014 ISDA Credit Derivatives Definitions 485 Edmund Parker Mayer Brown d) Interest rates and FX Interest rate derivatives and documentation 569 Matthew Hebburn Solicitor Oliver Ward Simmons & Simmons FX derivatives 599 David R Johnson First Abu Dhabi Bank PJSC e) Digital assets and ESG ESG derivatives 631 Erwin Faas Lidewey van der Wal ABN AMRO Fausto Giacomet McDermott Will & Emery Oliver West Simmons & Simmons Crypto derivatives in the UK and EU – regulation and documentation 667 Rosali Pretorius Oliver Ward Simmons & Simmons US regulations of digital asset derivatives – an evolving landscape 705 Joyce Sophia Xu Joyce Xu Law LLC About the authors 721 About Globe Law and Business 728ReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |
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