30 July 2018
The issue of contractual continuity in the over-the-counter derivatives market following the exit of the UK from the EU is a subject of considerable concern to firms and their clients and counterparties. The International Swaps and Derivatives Association (ISDA) and the Association for Financial Markets in Europe (AFME) have published a joint paper examining the challenges faced by UK and EU firms and their clients seeking to transfer their legacy cross-border over-the-counter derivative contracts to an appropriately licensed affiliate in advance of Brexit. Clifford Chance assisted ISDA and AFME in the preparation of this paper.
Contractual continuity in OTC derivatives – Challenges with transfers