This Practice Note considers the regulatory obligations that are in the process of being put in place to require a substantial part of the derivatives market to move to a centrally cleared model including the process for central clearing of transactions and the role of clearing houses.
This Practice Note sets out what an English law legal opinion may cover when issued in relation to a debt capital markets medium term note (MTN) programme. It sets out the typical structure of an opinion, when opinions are given and discusses why opinions are important. It also sets out what matters are typically opined on, common assumptions and reservations included in the legal opinion as well as when a legal opinion needs to be updated.
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