Setting new standards

Special Report - China: Documentation

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China's National Association of Financial Market Institutional Investors (Nafmii), a trade association set up by the People's Bank of China (PBOC), published a new master agreement for the trading, settlement and netting of onshore over-the-counter (OTC) derivatives traded in the Chinese interbank market in mid-March - nearly 10 months ahead of some predictions.

The new agreement is much more than an amalgamation of its Nafmii predecessor published in 2007 and a master agreement published by Chi

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