Derivatives & The ISDA Master Agreement - Key Concepts Explored with Jeffrey Golden KC (Hon)

Introduction

This new virtual classroom seminar will cover the core principles and key conceptual underpinnings of the global derivatives market’s most widely used standard form.

The session will aim to provide context to ISDA documentation through a focus on the historical and commercial drivers that animated the drafting of key ISDA Master Agreement provisions, including relevant early termination procedures.

We will also reflect on how against this backdrop, the courts have set about interpreting ISDA contractual language when adjudicating financial market disputes.

What You Will Learn

This live broadcast will cover the following:

• Highlighted Background to the ISDA Master Agreement
• The creation of ISDA
• The evolution of the ISDA forms
• ISDA’s documentation architecture
• Status as an industry standard
• The ISDA Master as a relational contract
• Key Commercial Drivers
• Maximising market protection, self-determination and certainty as to market position
• Broadening the community of users: a ‘selling document’
• Flexibility
• The particular relevance of the introduction of the Second Method to the 1992 ISDA Master Agreement
• Early Termination Procedures
• Market quotation, loss and close-out amount generally
• The relevance of good faith, reasonably determined and commercially reasonable
• Permitted timings and relevant data
• Further Conceptual Underpinnings
• Contract as statute
• Single agreement and flawed asset theories
• Standardisation and systemic consequence
• Ambition to ‘hermetically seal’ market determinations
• Derivatives v loans
• Netting

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.