Derivatives

Derivatives guidance:

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...

Practice Note

What is the ISDA Schedule? The International Swaps and Derivatives Association (ISDA) documentation framework involves layers of documentation (often referred to as the...

Practice Note

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...

Practice Note

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...

Practice Note

Short selling, or 'going short', is a technique whereby traders sell shares or debt instruments ('securities') which they do not own at the time of entering into the...

Practice Note

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...

Practice Note

The derivative contracts regime represents a comprehensive, self-contained and exclusive regime for the taxation of a company's derivative transactions in the UK. It only...

Practice Note

This year’s annual round-up reviews some of the most significant developments of 2017 and previews what is on the horizon for 2018. This includes the Prospectus...

Practice Note

This year’s annual round-up reviews some of the most significant developments of 2017 and previews what is on the horizon for 2018. This includes the Prospectus...

Practice Note

As of exit day, the UK is no longer an EU Member State, but it has entered an implementation period during which it continues to be treated by the EU as a Member State...

Practice Note

This Practice Note is in the process of being comprehensively updated to reflect the UK’s exit from the EU on 31 January 2020. As of exit day, the UK is no longer an EU...

Practice Note

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...

Practice Note

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...

Practice Note

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...

Practice Note

What is a CDO? Core concepts Collateralised debt obligations (CDO) are complex, high-value transactions involving numerous parties, extensive documentation and, usually,...

Practice Note

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...

Practice Note

The International Swaps and Derivatives Association, Inc. (ISDA) publishes two versions of its commonly used master agreement, which sets out the terms and conditions for...

Practice Note

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...

Practice Note

What is a CPPI transaction? 'CPPI' stands for constant proportion portfolio insurance, and refers to a form of investment strategy. 'Constant proportion' refers to the...

Practice Note

Step-by-step guide • Protection seller (party A) and protection buyer (party B) enter into an ISDA Master Agreement, Schedule and confirmation with each other to document...

Practice Note

Step-by-step guide • Protection seller (party A) and protection buyer (party B) enter into an ISDA Master Agreement, Schedule and confirmation with each other to document...

Practice Note

Step-by-step guide • Protection seller (party A) and protection buyer (party B) enter into an ISDA Master Agreement, Schedule and confirmation with each other to document...

Practice Note

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...

Practice Note

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...

Practice Note

Settlement methods Once a credit derivative transaction has been triggered, the parties to that transaction will want to settle it so that they each receive any amounts...

Practice Note

What are successors? 'Reference entity' is defined in Section 2.1 of the 2014 ISDA Credit Derivatives Definitions (the 2014 Definitions) as being the entity specified in...

Practice Note