Negotiation policy manuals
This year DDL has compiled a number of negotiation policy manuals for bank and fund manager clients covering the 2002 ISDA Master Agreement and the ISDA Credit Support Annex under English law. In some cases this involved updating and extending existing manuals while in others a completely new manual was created. This was usually the case as far as the ISDA Credit Support Annex under English law was concerned where clients had existing policies written down for ISDA Master Agreement negotiation but often not for collateral documentation negotiation.
ISDA recently reported in its Margin Survey 2010 that 78% of OTC derivatives risk exposure is now collateralised. We believe that the formulation of collateral policies which can be recorded in a manual is likely to increase in the future.
If you are considering upgrading your current negotiation policy manual or putting one in place for future use, we would be pleased to discuss this with you if you contact us on +44 (0) 20 7060 1335 or email us at firstname.lastname@example.org.