Negotiating Skills for the ISDA Master Agreement: The Essential Playbookfor Over-the-Counter Derivatives

The only book that helps negotiators achieve their goals by targeting those terms and issues where they are most likely to achieve success. Demystifies complex ISDA negotiations and presents negotiable points, drafting recommendations, language suggestions, operational tips, and more. Includes a full chapter on the impact of recent ISDA initiatives. Helps negotiators protect their own interests by identifying key provisions they can actually bargain with and not waste time on things they cant change. In the wake of recent turbulence in the financial markets, institutions that transact OTC derivatives are increasingly relying on the International Swaps and Derivatives Association, Inc.s (ISDA) Master Agreement. However, because this agreement is extremely complex, many money managers, hedge fund managers, and traders find themselves at a serious disadvantage when negotiating with dealer counterparties. Now, for the first time, theres a complete, practical guide to successfully negotiating the ISDA Master Agreement and its associated Credit Support Annexes. Negotiating Skills for the ISDA Master Agreement-helps readers clearly understand what dealers will and wont concede, helping them focus on the issues and provisions they can actually change. Long-time OTC derivatives consultant Seth Phillip Bender clearly introduces the ISDA Master Agreements documentation architecture, provides drafting recommendations and language suggestions, and offers specific operational tips related to the Credit Support Annex and the collaterization of exposure. He also devotes a full chapter to recent ISDA initiatives, showing how they have affected negotiations, and guiding readers in aligning with them. Simply put, this book gives financial professionals the insights they need to protect their interests in todays OTC derivatives marketplace--fairly, efficiently, and consistently.-