Holes in the net: lawyers split over China netting opinions
Law firms are offering close-out netting opinions, but not everyone agrees it is possible
It has been a banner 12 months in the Chinese derivatives market, with foreign investors now able to access onshore interest rate and foreign exchange derivatives for hedging purposes, while the credit default swap market is finally starting to take shape.
But for the international banks facilitating many of these trades, a major hurdle still remains: a lack of close-out netting, which would
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