Design of Master Agreements for OTC Derivatives

Design of Master Agreements for OTC Derivatives

by Dietmar Franzen

Paperback(Softcover reprint of the original 1st ed. 2001)

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Overview

Design of Master Agreements for OTC Derivatives by Dietmar Franzen

The book deals with the design of bilateral contractual arrangements for OTC (over-the-counter)-traded derivatives transactions. These arrangements govern inter alia the rights and obligations of the parties in the event of a default. The main provisions of the widely used ISDA Master Agreements as well as their relation to insolvency law are described in the text. The formal analysis focuses on the trade-off between protecting the interests of the non-defaulting party and enabling the failed counterparty to reorganize its liabilities in order to avoid inefficient liquidations. The results of the book challenge some widely held beliefs about the benefits of certain provisions commonly used in master agreements. The analysis also suggests implications for the pricing of risky derivatives transactions containing these provisions.

Product Details

ISBN-13: 9783540679349
Publisher: Springer Berlin Heidelberg
Publication date: 10/28/2000
Series: Lecture Notes in Economics and Mathematical Systems Series , #494
Edition description: Softcover reprint of the original 1st ed. 2001
Pages: 175
Product dimensions: 6.10(w) x 9.25(h) x 0.01(d)

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