Public Promises and Organizational Agendas
Georgetown University Law Center
February 24, 2009
Arizona Law Review, Forthcoming
Rutgers School of Law-Newark Research Papers No. 034
This essay considers standard-form over-the-counter (OTC) derivatives contracts from an organizational perspective. OTC derivatives contracts are highly standardized and have a peculiar modular structure. Most are drafted by a single trade group, which is not party to the contracts. These features in turn shape the behavior of the trade group, the contracting institutions, national regulators, and the global financial markets.
Number of Pages in PDF File: 19
Keywords: contracts, organizational theories, derivatives, financial markets, ISDA
JEL Classification: G15, G20, K12, K22, L14, L20, O16, O17Accepted Paper Series
Date posted: February 26, 2009 ; Last revised: March 18, 2009
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