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European OTC client-clearing docs arrive after nine-month delay

Complete agreement proved impossible, but participants see new legal template as a good base for negotiations, Isda says

Signing a contract

Users of client clearing services in Europe's over-the-counter derivatives markets now have a standard legal template to work from - the product of more than a year of negotiations between buy- and sell-side firms.

The European client cleared OTC derivatives addendum - published today by the Futures and Options Association (FOA) and the International Swaps and Derivatives Association - can be used

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