Publication Type

Journal Article

Publication Date

9-2017

Abstract

This article examines the legal implications of the interconnections of the global derivatives market, such as the exchange and over-the-counter (OTC) markets, in East and Southeast Asia. First, we introduce the interconnectedness of the global derivatives market. We then examine some legal implications of such interconnectedness from several angles, such as the extraterritoriality of relevant regulations (notably the reporting, clearing and trading mandates prescribed by the G20 and the new initial margin rule), standard product documentation, the effect of substituted compliance, the potential competition effect due to shifting OTC trades to exchange trading and the effect of consolidating exchanges and/or clearing services. We approach these issues from the perspective of Asian countries in relation to development in core markets, such as those in the US, the UK and Europe.

Keywords

Derivative, Interconnection, Exchange, ISDA, Extraterritoriality, Territorial Extension, Financial Regulation

Discipline

Antitrust and Trade Regulation | Commercial Law | International Trade Law

Research Areas

Commercial Law

Publication

Masaryk University Journal of Law and Technology

Volume

11

Issue

2

First Page

323

Last Page

350

ISSN

1802-5951

Identifier

10.5817/MUJLT2017-2-6

Publisher

Masaryk University

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Additional URL

http://doi.org./10.5817/MUJLT2017-2-6

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