Isda commodity docs ripe for update – lawyers
Nickel rout exposed weaknesses in commodity definitions as futures trading halts left OTC positions in limbo
Standard documentation underpinning over-the-counter commodity derivatives are ripe for amendments, according to lawyers, as recent events in commodity markets exposed weaknesses in the definitions.
“I would be in favour of a refresh,” said Morris Blumenthal, head of financial markets legal at Standard Chartered.
“I think they remain fit for purpose, but they’re coming up to 18 years old now, and there are elements of them that are not ideal. If you have worked with them for a few years, you
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