Credit derivatives have emerged from the financial crisis as a stronger and more robust product, heavily used by financial institutions, corporations, insurers, asset managers and pension funds. Much of the original title, Credit Derivatives: Documenting and Understanding Credit Derivative Products, focused on the 2003 ISDA Credit Derivative Definitions. With the launch of the 2014 ISDA Credit Derivatives Definitions, which became market standard definitions for documenting credit derivatives transactions on 6 October 2014, this new edition provides similarly detailed and comprehensive analysis of the heavily updated 2014 Definitions.This book covers the 2014 Definitions in detail, while also discussing the differences with the predecessor definitions. This practitioner-oriented title also covers auction settlement, the DC Rules, POB Rules, SRO Rules and the Determinations Committees, as well as looking in detail at the products that the 2014 Definitions are used with, such as single name and index credit default swaps, and structured products. The new edition provides practical reading for lawyers, whether in private practice or in-house, and all credit derivatives market participants looking to gain a solid understanding of the new definitions. Author Edmund Parker is the global head of Mayer Brown’s Derivatives & Structured Products practice and an internationally recognised leading expert in the field.

Marked by the establishment of ISDA in 1985, derivatives have become an indispensable, integral and deeply embedded part of the international financial markets.The new global regulatory framework instituted following the 2008 financial crisis was accompanied by a series of operational, commercial and documentation changes, which has made the derivatives markets stronger, safer and more resilient. However, a deeper and more robust product and regulatory understanding of the derivatives market is more important than ever. This fourth edition of Practical Derivatives: A Transactional Approach features a number of new chapters analysing the latest trends in the following areas:the rise of derivatives referencing cryptocurrencies and other digital assets, and the emerging regulatory framework on both sides of the Atlantic;the slow but steady move to assets meeting the Environmental, Social and Governance (ESG) criteria in the area of derivatives and structured products;the completion of the regulatory framework for cleared and OTC derivatives;the development of non-English/New York law derivatives documentation; andthe emergence of new structures in the securities finance world.It also includes updated chapters explaining how derivatives are used in the practical context, how the documentation works and any pitfalls for the unwary. It provides real-life tips for the application and negotiation of transactions referencing:2021 ISDA Interest Rate Derivatives Definitions;2014 ISDA Credit Derivatives Definitions;2002 ISDA Equity Derivatives Definitions;2005 ISDA Commodity Definitions;Regulatory IM and VM documentation; andThe principal repo and stock lending forms of agreement.With contributions from leading law firms, investment firms and academics, this accessible book takes a transactional approach and features coverage of product innovations. Whether you are at a bank, asset manager, pension fund, insurance company or other financial institution; from a company or organisation looking to invest or manage your risk; or involved in providing advisory services to these entities, this title will provide you with practical tools for using derivatives in your business.

Marked by the establishment of ISDA in 1985, derivatives have become an indispensable, integral and deeply embedded part of the international financial markets.The new global regulatory framework instituted following the 2008 financial crisis was accompanied by a series of operational, commercial and documentation changes, which has made the derivatives markets stronger, safer and more resilient. However, a deeper and more robust product and regulatory understanding of the derivatives market is more important than ever. This fourth edition of Practical Derivatives: A Transactional Approach features a number of new chapters analysing the latest trends in the following areas:the rise of derivatives referencing cryptocurrencies and other digital assets, and the emerging regulatory framework on both sides of the Atlantic;the slow but steady move to assets meeting the Environmental, Social and Governance (ESG) criteria in the area of derivatives and structured products;the completion of the regulatory framework for cleared and OTC derivatives;the development of non-English/New York law derivatives documentation; andthe emergence of new structures in the securities finance world.It also includes updated chapters explaining how derivatives are used in the practical context, how the documentation works and any pitfalls for the unwary. It provides real-life tips for the application and negotiation of transactions referencing:2021 ISDA Interest Rate Derivatives Definitions;2014 ISDA Credit Derivatives Definitions;2002 ISDA Equity Derivatives Definitions;2005 ISDA Commodity Definitions;Regulatory IM and VM documentation; andThe principal repo and stock lending forms of agreement.With contributions from leading law firms, investment firms and academics, this accessible book takes a transactional approach and features coverage of product innovations. Whether you are at a bank, asset manager, pension fund, insurance company or other financial institution; from a company or organisation looking to invest or manage your risk; or involved in providing advisory services to these entities, this title will provide you with practical tools for using derivatives in your business.

Marked by the establishment of ISDA in 1985, derivatives have become an indispensable, integral and deeply embedded part of the international financial markets.The new global regulatory framework instituted following the 2008 financial crisis was accompanied by a series of operational, commercial and documentation changes, which has made the derivatives markets stronger, safer and more resilient. However, a deeper and more robust product and regulatory understanding of the derivatives market is more important than ever. This fourth edition of Practical Derivatives: A Transactional Approach features a number of new chapters analysing the latest trends in the following areas:the rise of derivatives referencing cryptocurrencies and other digital assets, and the emerging regulatory framework on both sides of the Atlantic;the slow but steady move to assets meeting the Environmental, Social and Governance (ESG) criteria in the area of derivatives and structured products;the completion of the regulatory framework for cleared and OTC derivatives;the development of non-English/New York law derivatives documentation; andthe emergence of new structures in the securities finance world.It also includes updated chapters explaining how derivatives are used in the practical context, how the documentation works and any pitfalls for the unwary. It provides real-life tips for the application and negotiation of transactions referencing:2021 ISDA Interest Rate Derivatives Definitions;2014 ISDA Credit Derivatives Definitions;2002 ISDA Equity Derivatives Definitions;2005 ISDA Commodity Definitions;Regulatory IM and VM documentation; andThe principal repo and stock lending forms of agreement.With contributions from leading law firms, investment firms and academics, this accessible book takes a transactional approach and features coverage of product innovations. Whether you are at a bank, asset manager, pension fund, insurance company or other financial institution; from a company or organisation looking to invest or manage your risk; or involved in providing advisory services to these entities, this title will provide you with practical tools for using derivatives in your business.

Commodity derivatives are financial instruments whose value is based on underlying commodities, such as oil, gas, metals, agricultural products and minerals. Other assets such as emissions trading credits, freight rates and even the weather can also underlie commodity derivatives. Although the market has been around for centuries, commodity derivatives remain a vital and increasingly sophisticated product today. Airlines continue to hedge themselves against volatility in fuel prices, mining corporations against declines in metal values and power companies against rises in the price of natural gas. This accessible title explains each type of transaction, together with the documentation involved. In particular, the book analyses and guides the reader through the full suite of over-the-counter, exchange-traded and structured commodity derivative documentation, and provides a detailed guide to International Swaps and Derivatives Association and other leading documentation platforms.The book further contains detailed analysis of the regulatory and tax issues affecting commodity derivative products in the United Kingdom and United States. This title is edited by Edmund Parker, head of derivatives at Mayer Brown, London (author of Credit Derivatives: Documenting and Understanding Credit Derivative Products and editor of Equity Derivatives: Documenting and Understanding Equity Derivative Products), and Marcin Perzanowski, an associate at Mayer Brown, London.

Credit derivatives have emerged from the financial crisis as a stronger and more robust product, heavily used by financial institutions, corporations, insurers, asset managers and pension funds. Much of the original title, Credit Derivatives: Documenting and Understanding Credit Derivative Products, focused on the 2003 ISDA Credit Derivative Definitions. With the launch of the 2014 ISDA Credit Derivatives Definitions, which became market standard definitions for documenting credit derivatives transactions on 6 October 2014, this new edition provides similarly detailed and comprehensive analysis of the heavily updated 2014 Definitions.This book covers the 2014 Definitions in detail, while also discussing the differences with the predecessor definitions. This practitioner-oriented title also covers auction settlement, the DC Rules, POB Rules, SRO Rules and the Determinations Committees, as well as looking in detail at the products that the 2014 Definitions are used with, such as single name and index credit default swaps, and structured products. The new edition provides practical reading for lawyers, whether in private practice or in-house, and all credit derivatives market participants looking to gain a solid understanding of the new definitions. Author Edmund Parker is the global head of Mayer Brown’s Derivatives & Structured Products practice and an internationally recognised leading expert in the field.

Marked by the establishment of ISDA in 1985, derivatives have become an indispensable, integral and deeply embedded part of the international financial markets.The new global regulatory framework instituted following the 2008 financial crisis was accompanied by a series of operational, commercial and documentation changes, which has made the derivatives markets stronger, safer and more resilient. However, a deeper and more robust product and regulatory understanding of the derivatives market is more important than ever. This fourth edition of Practical Derivatives: A Transactional Approach features a number of new chapters analysing the latest trends in the following areas:the rise of derivatives referencing cryptocurrencies and other digital assets, and the emerging regulatory framework on both sides of the Atlantic;the slow but steady move to assets meeting the Environmental, Social and Governance (ESG) criteria in the area of derivatives and structured products;the completion of the regulatory framework for cleared and OTC derivatives;the development of non-English/New York law derivatives documentation; andthe emergence of new structures in the securities finance world.It also includes updated chapters explaining how derivatives are used in the practical context, how the documentation works and any pitfalls for the unwary. It provides real-life tips for the application and negotiation of transactions referencing:2021 ISDA Interest Rate Derivatives Definitions;2014 ISDA Credit Derivatives Definitions;2002 ISDA Equity Derivatives Definitions;2005 ISDA Commodity Definitions;Regulatory IM and VM documentation; andThe principal repo and stock lending forms of agreement.With contributions from leading law firms, investment firms and academics, this accessible book takes a transactional approach and features coverage of product innovations. Whether you are at a bank, asset manager, pension fund, insurance company or other financial institution; from a company or organisation looking to invest or manage your risk; or involved in providing advisory services to these entities, this title will provide you with practical tools for using derivatives in your business.

Marked by the establishment of ISDA in 1985, derivatives have become an indispensable, integral and deeply embedded part of the international financial markets.The new global regulatory framework instituted following the 2008 financial crisis was accompanied by a series of operational, commercial and documentation changes, which has made the derivatives markets stronger, safer and more resilient. However, a deeper and more robust product and regulatory understanding of the derivatives market is more important than ever. This fourth edition of Practical Derivatives: A Transactional Approach features a number of new chapters analysing the latest trends in the following areas:the rise of derivatives referencing cryptocurrencies and other digital assets, and the emerging regulatory framework on both sides of the Atlantic;the slow but steady move to assets meeting the Environmental, Social and Governance (ESG) criteria in the area of derivatives and structured products;the completion of the regulatory framework for cleared and OTC derivatives;the development of non-English/New York law derivatives documentation; andthe emergence of new structures in the securities finance world.It also includes updated chapters explaining how derivatives are used in the practical context, how the documentation works and any pitfalls for the unwary. It provides real-life tips for the application and negotiation of transactions referencing:2021 ISDA Interest Rate Derivatives Definitions;2014 ISDA Credit Derivatives Definitions;2002 ISDA Equity Derivatives Definitions;2005 ISDA Commodity Definitions;Regulatory IM and VM documentation; andThe principal repo and stock lending forms of agreement.With contributions from leading law firms, investment firms and academics, this accessible book takes a transactional approach and features coverage of product innovations. Whether you are at a bank, asset manager, pension fund, insurance company or other financial institution; from a company or organisation looking to invest or manage your risk; or involved in providing advisory services to these entities, this title will provide you with practical tools for using derivatives in your business.

Marked by the establishment of ISDA in 1985, derivatives have become an indispensable, integral and deeply embedded part of the international financial markets.The new global regulatory framework instituted following the 2008 financial crisis was accompanied by a series of operational, commercial and documentation changes, which has made the derivatives markets stronger, safer and more resilient. However, a deeper and more robust product and regulatory understanding of the derivatives market is more important than ever. This fourth edition of Practical Derivatives: A Transactional Approach features a number of new chapters analysing the latest trends in the following areas:the rise of derivatives referencing cryptocurrencies and other digital assets, and the emerging regulatory framework on both sides of the Atlantic;the slow but steady move to assets meeting the Environmental, Social and Governance (ESG) criteria in the area of derivatives and structured products;the completion of the regulatory framework for cleared and OTC derivatives;the development of non-English/New York law derivatives documentation; andthe emergence of new structures in the securities finance world.It also includes updated chapters explaining how derivatives are used in the practical context, how the documentation works and any pitfalls for the unwary. It provides real-life tips for the application and negotiation of transactions referencing:2021 ISDA Interest Rate Derivatives Definitions;2014 ISDA Credit Derivatives Definitions;2002 ISDA Equity Derivatives Definitions;2005 ISDA Commodity Definitions;Regulatory IM and VM documentation; andThe principal repo and stock lending forms of agreement.With contributions from leading law firms, investment firms and academics, this accessible book takes a transactional approach and features coverage of product innovations. Whether you are at a bank, asset manager, pension fund, insurance company or other financial institution; from a company or organisation looking to invest or manage your risk; or involved in providing advisory services to these entities, this title will provide you with practical tools for using derivatives in your business.

Commodity derivatives are financial instruments whose value is based on underlying commodities, such as oil, gas, metals, agricultural products and minerals. Other assets such as emissions trading credits, freight rates and even the weather can also underlie commodity derivatives. Although the market has been around for centuries, commodity derivatives remain a vital and increasingly sophisticated product today. Airlines continue to hedge themselves against volatility in fuel prices, mining corporations against declines in metal values and power companies against rises in the price of natural gas. This accessible title explains each type of transaction, together with the documentation involved. In particular, the book analyses and guides the reader through the full suite of over-the-counter, exchange-traded and structured commodity derivative documentation, and provides a detailed guide to International Swaps and Derivatives Association and other leading documentation platforms.The book further contains detailed analysis of the regulatory and tax issues affecting commodity derivative products in the United Kingdom and United States. This title is edited by Edmund Parker, head of derivatives at Mayer Brown, London (author of Credit Derivatives: Documenting and Understanding Credit Derivative Products and editor of Equity Derivatives: Documenting and Understanding Equity Derivative Products), and Marcin Perzanowski, an associate at Mayer Brown, London.