China’s cross-border master agreement fails to excite dealers
New Nafmii OTC derivatives document provides greater flexibility, but dealers may stick to Isda
Dealers predict there will be limited uptake of the new cross-border version of China’s derivatives master agreement, with many expected to continue using existing documents.
China’s National Association of Financial Market Institutional Investors in late August updated its master agreement for over-the-counter derivatives with terms more favourable to cross-border trades, such as allowing dealers to trade through branches or head offices and to choose their desired governing law besides
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