Landmark development - The Isda master agreement (1993)

risk20-0707-22-gif

In the early 1980s, most swap dealers had their own standard form proprietary contracts. Linguistic and procedural norms differed from firm to firm, right down to the definition of swap counterparties and how to determine Libor. Every deal required the drawing up of comprehensive standalone legal agreements, painstakingly picked over by lawyers and negotiating teams. Not only was this complicated, it was inefficient: the legal separation of trades meant there was no basis for close-out netti

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: