The International Swaps and Derivatives Association plans to publish dictionaries of standard terms used in over-the-counter derivatives in Korea, Taiwan and Thailand. "It will save them from having to reinvent the wheel each time they deal with a counterparty," said Angela Papesch, head of the Asia-Pacific office at ISDA in Singapore.
These terms and abbreviations will then be used in derivatives that reference a floating rate. The move follows the release of rupee derivative definitions, which were released for the Indian market two months ago.
Papesch said the definitions were drafted by the regional legal and regulatory committee, for which participants meet monthly in Hong Kong and Singapore to discuss regional regulatory and documentary-related issues.
