PRAC DERIVATIVES 3/E

3. Auflage 2017
ISBN: 978-1-911078-17-3
Verlag: GLOBE LAW & BUSINESS LTD

Buch, Englisch, 593 Seiten, Format (B × H): 159 mm x 241 mm, Gewicht: 1130 g

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.

Autoren/Hrsg.

Parker, Edmund

Perzanowski, Marcin

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft Internationale Finanzmärkte
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Internationale Finanzmärkte
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Anlagen & Wertpapiere
• Rechtswissenschaften Internationales Recht und Europarecht Internationales Recht Internationales Handels-, Wirtschafts- und Gesellschaftsrecht

Inhaltsverzeichnis

Preface 5
Edmund Parker
Marcin Perzanowski
Mayer Brown

Part I: The regulatory and governance aspects of derivatives

Corporate governance and derivatives end users 7
Paul Ali
University of Melbourne

Regulation of OTC derivatives 25
Ruth Frederick
Senior legal counsel

Close-out netting 79
Kunel Tanna
Mayer Brown

Part II: Documenting and designing derivatives transactions

Overview of industry standard documentation 105
Guy Usher
Fieldfisher

Introduction to German derivatives documentation 125
Patrick Scholl
Mayer Brown

Documentation for cleared OTC derivatives 137
Patrick Scholl
Mayer Brown

Designing derivatives structures 155
John D Finnerty
Rachael W Park
AlixPartners LLP

Part III: Derivatives asset classes and corresponding industry documentation

a) Commodity derivatives

Introduction to commodity derivatives 177
Edmund Parker
Marcin Perzanowski
Mayer Brown

Overview of the 2005 ISDA 205 Commodity Definitions
Edmund Parker
Marcin Perzanowski
Mayer Brown

Emissions trading 251
Edmund Parker
Mayer Brown

Weather derivatives 279
Paul O Oranika
Africa Business World

Energy derivatives and hedging strategies 289
Christopher Clancy
Cyriel de Jong
KYOS Energy Consulting

b) Equity derivatives

Introduction to equity derivatives 303
Edmund Parker
Marcin Perzanowski
Mayer Brown

Overview of the 2002 ISDA 339 Equity Derivatives Definitions
Edmund Parker
Marcin Perzanowski
Mayer Brown

c) Credit derivatives

Introduction to credit derivatives 409
Edmund Parker
Mayer Brown

Overview of the 2014 ISDA 453 Credit Derivatives Definitions
Edmund Parker
Mayer Brown

d) Other derivatives classes

Interest rate derivatives 527
Natalie Ashford
Vincent KP Sum
Mayer Brown

FX derivatives 537
David Johnson
First Abu Dhabi Bank PJSC

Property derivatives 565
Edmund Parker
Mayer Brown
Emmett Peters
Addleshaw Goddard LLP

About the authors 589