Russia to de-link derivatives reporting and netting
Russia is set to ditch a requirement that derivatives trades be reported if close-out netting is to be enforceable, according to a senior lawyer
Russia is set to remove its requirement that derivatives trades be reported to qualify for close-out netting, according to a senior lawyer. The move could make it easier for foreign banks to transact with local counterparties.
Russia is one of the only jurisdictions that requires trades to be reported if close-out netting is to be enforceable; after a drawn-out drafting phase, the law was finalised last year, and mandatory reporting kicked-in for all derivatives transactions at the beginning of
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