China's great leap forward
China took a big step in its slow march towards derivatives market liberalisation with the October publication of a master derivatives agreement. Chin-Chong Liew, I-Ping Soong, Simon Zhang and Sheng Wu of Linklaters describe how the agreement works
The much-anticipated China Interbank Market Financial Derivatives Master Agreement was published on October 12 by the National Association of Financial Market Institutional Investors (Nafmii). It is intended to be a unified document to cater for the expanding market in domestic over-the-counter (OTC) derivatives transactions.
Market participants have long awaited a Chinese law-governed, Chinese
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