Public Promises and Organizational Agendas

19 Pages Posted: 26 Feb 2009 Last revised: 18 Mar 2009

Anna Gelpern

Georgetown University Law Center

Date Written: February 24, 2009

Abstract

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.

Keywords: contracts, organizational theories, derivatives, financial markets, ISDA

JEL Classification: G15, G20, K12, K22, L14, L20, O16, O17

Suggested Citation

Gelpern, Anna, Public Promises and Organizational Agendas (February 24, 2009). Arizona Law Review, Forthcoming; Rutgers School of Law-Newark Research Papers No. 034. Available at SSRN: https://ssrn.com/abstract=1348884

Anna Gelpern (Contact Author)

Georgetown University Law Center ( email )

600 New Jersey Avenue, NW
Washington, DC 20001
United States

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