THE International Swaps and Derivatives Association (ISDA) has published its first standard form documentation for credit derivatives. Industry observers predict that the publication of ISDA's Confirmation of OTC Credit Swap Transactions document will lead to significant volume increases in the global credit derivatives market.
Bob Pickel, general counsel at ISDA, says development of the credit swaps document began more than a year ago. The 19-page document defines the terms and conditions of
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