Derivatives Deskbook: Close-Out Netting, Risk Mitigation, Litigation is a comprehensive resource for all users of swap agreements and derivatives, from financial institutions to corporate end-users. The treatise defines the key terminology and identifies the major players, discusses the full range of required documentation, highlights best practices for the legal risk management of derivatives, and includes numerous practice-tested legal forms.  In addition, it examines all significant, and often difficult-to-find, derivative transactions litigation cases from leading jurisdictions worldwide.

Highlights of this new release include:

• Second Method, Market Quotation Under 1992 Master Agreement: Expanded discussion regarding the documents that may be considered in making the market quotation determination (see section 5:4).
• Avoidance Powers—Bankruptcy Code Sections 544, 547, and 548: Updated examination of a Supreme Court ruling on whether section 546(e) protects transfers made through a financial institution to a third party as an intermediary (see section 7:2.3).
• Jurisdictional Issues: Added identification of the normal governing law of OTC derivative transactions and explanation of whether parties are obligated to utilize the laws of these jurisdictions (see new section 8:8).
• General Review of Systemic Risk and Regulatory Developments: Expanded exploration of a Second Circuit decision relating to the extra-territorial aspects of the Commodity Exchange Act (CEA) and the availability of judicial remedies for violations of the CEA by foreign counterparties (see section 9:1).

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