The International Swaps and Derivatives Association is issuing legal opinions for the derivatives markets in India and the Philippines. For India the first close-out netting opinion was recently released while a collateral opinion for the Philippines will be issued in the coming weeks.
"This is an extra resource to provide greater clarity on the enforceability of contracts," said Angela Papesch, director of policy and head of the Asia-Pacific office at ISDA in Singapore. "Members approached us to bring out opinions for these jurisdictions. It saves firms time, energy and money on collecting their own information," she added.
