Performance of Derivative Transactions Through the Central Counterparty


https://doi.org/10.17589/2309-8678-2018-6-1-58-82

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Abstract

The article is devoted to the contractual models designed to formalize the legal relationship between the clearing participants (parties to the original derivative transaction) and the central counterparty (“CCP”). The authors deal with the legal concepts of novation, so-called “open offer” and assignment, which are commonly used in international practice. Taking into consideration some Russian legal peculiarities and comparative law experience, the authors come to the conclusion that the concept of assignment is best suited to the Russian legal framework.


About the Authors

Maxim Bashkatov
HSE – Skolkovo Institute
Russian Federation

Law and Development 

Leading Research Fellow

28/11 Shabolovka St., Moscow, 119049



Alexander Nadmitov
HSE – Skolkovo Institute
Russian Federation

Law and Development 

Leading Research Fellow

28/11 Shabolovka St., Moscow, 119049



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Supplementary files

For citation: Bashkatov M., Nadmitov A. Performance of Derivative Transactions Through the Central Counterparty. Russian Law Journal. 2018;6(1):58-82. https://doi.org/10.17589/2309-8678-2018-6-1-58-82

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ISSN 2309-8678 (Print)
ISSN 2312-3605 (Online)