Russia sanctions throw derivatives market into disarray
Lawyers say western banks face illegality terminations; industry groups plan deliverable ruble workaround
Trade associations are scrambling with their members to prevent hundreds of billions of dollars’ worth of derivatives contracts from being thrown into disarray, as fears that an unprecedented slew of sanctions against Russian entities may prohibit western banks from making scheduled payments on their contracts and trigger unwieldy termination proceedings.
The International Swaps and Derivatives Association and the Emerging Markets Trade Association (Emta) are also working with members to
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