Derivatives and capital markets products

Derivatives and capital markets products guidance:

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 terms ‘bonds’ and ‘notes’ are used interchangeably (and there is no legal difference between the terms), though notes tend to be issued either continuously or...

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

Role The role of credit rating agents (CRAs) is to provide an objective and analytical opinion on the risk of payment defaults by looking at various factors that help...

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

Management of issuer risk In structured finance transactions (including securitisations), a special purpose vehicle (an SPV, also referred to as the Issuer) will be...

Practice Note

The International Swaps and Derivatives Association, Inc. (ISDA) is an association for participants in the derivatives industry. It has developed standard documentation...

Practice Note

The nature, main types and main uses of financial derivatives are summarised in Practice Notes: The nature of financial derivatives and Types of derivatives. Derivative...

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

English and New York law are the two most commonly selected governing laws for the International Swaps and Derivatives Association (ISDA) documentation, particularly...

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 current restructuring cycle has featured bondholders playing a significant role in many restructuring cases. In previous cycles, high yield bonds featured in some...

Practice Note

Companies, governments and municipalities issue bonds to finance their operations and fund projects. The bond market offers a very efficient way to borrow capital....

Practice Note

Ratings outlooks and watch-lists The three main credit rating agents (CRAs), Moody's Investors, Standard & Poor's (S&P) and Fitch Ratings, periodically review ratings....

Practice Note

Who and what are bondholders Bondholders (sometimes also known as noteholders) have generally invested in a company’s most junior—and hence risky—debt. In a distressed...

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 vast majority of derivative transactions are documented by standard documentation developed and published by the International Swaps and Derivatives Association, Inc....

Practice Note

The vast majority of derivative transactions are documented by standard documentation developed and published by the International Swaps and Derivatives Association, Inc....

Practice Note

Brexit BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further...

Practice Note

Introduction Prior to September 2008, numerous small and medium-sized enterprises (SMEs) entered into interest rate hedging products (IRHPs) to support borrowing with...

Practice Note

This Practice Note sets out certain key cases and associated analysis relevant to derivatives practitioners. The cases are divided by topic area and include: •...

Practice Note

What are credit derivatives and what are credit events? What is a credit derivative? A credit derivative is a bilateral transaction which takes its underlying value from...

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

ISDA documents The 1992 and 2002 ISDA Master Agreements (the Master Agreements) are standard form documents produced by the International Swaps and Derivatives...

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 Financial Conduct Authority (FCA) has the power, in accordance with the Listing Rules (LRs), to suspend and/or discontinue the listing of any securities if satisfied...

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
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