Isda raises concerns over Russian netting laws

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The International Swaps and Derivatives Association has raised concerns about landmark rules on close-out netting adopted in Russia earlier this year as part of an effort to open up the country's market for over-the-counter derivatives and foreign exchange. On February 7, Russian authorities enacted new rules to ensure the enforceability of close-out netting arrangements in the event of the bankruptcy of a Russian counterparty. The rules follow on from a series of amendments that were made to