Key Derivatives Cases 2015

24 Pages Posted: 1 Aug 2015 Last revised: 3 Aug 2015

See all articles by Rupert Macey-Dare

Rupert Macey-Dare

University of Oxford - Saint Cross College; Middle Temple; Minerva Chambers

Date Written: July 30, 2015

Abstract

The paper considers key derivatives cases in the English courts from 2015, namely: Wani v Royal Bank of Scotland, Dexia v Commune di Prato, Enasarco v Lehmans, SwissMarine v O.W. Supply, and MHB Bank v Shanpark.

Derivative products covered include: base rate swaps, interest rate swaps, caps, collars and corridors, extendable swaps, constant proportional portfolio insurance (CPPI) funds, fund options, and contracts for difference (CFDs).

ISDA 1992 and 2002 Master Agreement provisions considered include s. 2 Obligations, s. 6 Early Termination, s. 6(f) Set-off, s.13(b) Jurisdiction, s.14 Definitions of Loss and Market Quotation.

Additional cases will be added in due course.

Keywords: ISDA, Master Agreement, derivatives, options

JEL Classification: E43, E44, E47, F31, F39, F47

Suggested Citation

Macey-Dare, Rupert, Key Derivatives Cases 2015 (July 30, 2015). Available at SSRN: https://ssrn.com/abstract=2637988 or http://dx.doi.org/10.2139/ssrn.2637988

Rupert Macey-Dare (Contact Author)

University of Oxford - Saint Cross College ( email )

Saint Giles
Oxford
United Kingdom

Middle Temple

Middle Temple Lane
London, EC4Y 9AT
United Kingdom

Minerva Chambers

London
United Kingdom

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