ISDA Seeks More Netting Opinions

ISDA will commission netting opinions for the Czech Republic, India, Barbados and Iceland next year as part of its plan to further expand the jurisdictions in which it has legal certainty on the netting and collateral provisions in its Master Agreement.

  • 23 Dec 2004
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ISDA will commission netting opinions for the Czech Republic, India, Barbados and Iceland next year as part of its plan to further expand the jurisdictions in which it has legal certainty on the netting and collateral provisions in its Master Agreement.

ISDA has so far commissioned about 55 netting opinions, according to Don Thompson, "The list of countries in which there is commercial interest is somewhat dwindling," he said, adding that new commissions are issued based on member inquiry. "Czech [Republic] and India are obviously not major centers of derivatives activity," he said, "but there are some major counterparties in those jurisdictions."

ISDA will request an opinion on the Czech Republic first, and then Barbados, of interest to derivatives users because it's a popular home to hedge funds, Thompson explained. Iceland hosts a small number of banks with which ISDA members do business.

The association will commission a technical paper on China to offer investors a list of things to consider when doing business with a Chinese counterparty. It will not, however, issue an opinion because, according to Kimberly Summe, ISDA's general counsel in New York, the law is not certain enough yet.

  • 23 Dec 2004

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 Citi 22,118.13 61 9.00%
2 Barclays 20,987.41 55 8.54%
3 JPMorgan 17,406.75 53 7.08%
4 HSBC 16,333.52 48 6.64%
5 Goldman Sachs 15,454.74 49 6.29%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Commerzbank Group 114.00 1 66.16%
2 CaixaBank 37.05 1 21.50%
3 UniCredit 10.62 1 6.17%
3 BNP Paribas 10.62 1 6.17%
Subtotal 172.30 3 100.00%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 SG Corporate & Investment Banking 770.06 2 16.80%
2 Goldman Sachs 656.16 2 14.32%
3 JPMorgan 527.28 4 11.50%
4 Emirates NBD PJSC 408.38 1 8.91%
5 Deutsche Bank 321.53 3 7.01%