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
Email a colleague
Request a PDF

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
  • 24 Jul 2017
1 Citi 253,106.92 930 8.89%
2 JPMorgan 230,914.50 1036 8.11%
3 Bank of America Merrill Lynch 221,389.46 762 7.78%
4 Goldman Sachs 171,499.26 554 6.03%
5 Barclays 169,046.60 646 5.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jul 2017
1 HSBC 27,039.93 106 7.36%
2 Deutsche Bank 25,125.19 81 6.84%
3 Bank of America Merrill Lynch 23,128.33 61 6.29%
4 BNP Paribas 19,315.94 110 5.26%
5 Credit Agricole CIB 18,706.93 106 5.09%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,488.13 59 8.47%
2 Citi 11,496.21 73 7.22%
3 UBS 11,302.86 45 7.09%
4 Morgan Stanley 10,864.95 59 6.82%
5 Goldman Sachs 10,434.21 54 6.55%