Derivatives 2023

1. Documentation and Formalities

1.1 Please provide an overview of the documentation (or framework of documentation) on which derivatives transactions are typically entered into in your jurisdiction. Please note whether there are variances in the documentation for certain types of derivatives transactions or counterparties; for example, differences between over-the-counter ("OTC") and exchange-traded derivatives ("ETD") or for particular asset classes.

OTC derivatives transactions are typically documented under a set of streamlined standard documentation developed by the International Swaps and Derivatives Association, Inc. ("ISDA"), a leading trade association for participants in the OTC derivatives markets and particularly under its most commonly used versions, namely the 1992 ISDA Master Agreement and the 2002 ISDA Master Agreement. These are often entered into in conjunction with relevant ISDA Schedules, which allow parties to tailor the terms of the ISDA