Banks make first Isda emissions trade
Investment banks Dresdner Kleinwort Wasserstein and Fortis Bank have made the first ever trade of European Union emission allowances (EUAs) using an annex to the International Swaps and Derivatives Association (Isda) Master Agreement.
The annex will allow counterparties to net their emissions trades with other trades done using the Isda Master Agreement.
Evan Ard, a spokesman for Evolution, says: “Not having an annex to the master agreement has been
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