China beefing up derivatives master agreements; possible Isda friction?

Efforts by Nafmii to bolster the definitions of China’s over-the-counter derivatives master agreements should help market development. But there are concerns about potential copyright infringement related to Isda master agreements.

The National Association of Financial Market Institutional Investors (Nafmii) is looking to beef up definitions that go with its interbank master agreements that govern many onshore over-the-counter derivatives transactions in China, according to sources familiar with the organisation. This may lead to frictions between China's state-controlled documentation standards setter and the International Swaps and Derivatives Association regarding issues over copyright, though some hope the two will