Time running out for buy-side clearing docs negotiation, dealers warn
Buy-side firms need to begin negotiating OTC clearing documentation now or risk being forced to adopt one-size-fits-all standard templates
Buy-side firms should not leave it until the last minute to start negotiating over-the-counter clearing agreements, dealers warn. If they do, they could end up being forced to adopt standard contracts with no flexibility to make amendments.
The derivatives industry has been working for almost two years to draw up a set of standardised OTC clearing documents to reduce or eliminate the need for negotiation between clearing members and their clients – but the process has not been easy. The Futures
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