Standard docs may not prevent clearing contract crunch

Preventing a clearing contract crunch

Dale Braithwait

Since the beginning of 2011, a derivatives industry working group has been trying to avert ‘docugeddon’ – a term used during an International Swaps and Derivatives Association conference last month to describe the nightmare scenario in which over-the-counter derivatives clearing rules result in vast numbers of bespoke contracts, as thousands of clients hammer out agreements with clearing members. The industry’s plan was to come up with new, standardised documents that would reduce or eliminate

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