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International Law
Reference:

Legal aspects of cross-border trades with the off-exchange underlying financial instruments (derivatives)

Pleshakova Nadezhda Sergeevna

Post-graduate student, the department of Law, National Research University “Higher School of Economics”

109028, Russia, Moscow, Pereulok B. Trekhsvyatitelsky 3

nspleshakova@rambler.ru

DOI:

10.25136/2306-9899.2017.3.23477

Review date:

01-07-2017


Publish date:

09-07-2017


Abstract.

This article is dedicated to examination of the problems of choice of the applied law and jurisdiction in cross-border trades with the underlying financial instruments (derivatives), as well as issues of the parallel court and arbitration proceedings. The author analyzes the possible cases of emergence of the conflict of laws and jurisdictions that regulate the cross-border trades with derivatives, as well as indicated the ways for their resolution. The work also reviews the questions that occur from the demands raised by the regulators of various countries towards the order of conducting transaction with underlying financial instruments (derivatives) on the off-exchange market. The author analyzes the process of execution of contractual agreements between the actors of off-exchange trades with derivatives. Relevance of this topic is substantiated by the growing volume of trades with the underlying financial instruments in the international financial markets, as well as lack of due attention to the question of legal regulation of the derivative market; it is illustrated by the events of world economic crisis of 2008, as well as the emerged consequences for economy of the states and their legal systems that guarantee the rights and legitimate interests of the investors.

Keywords: transaction terms, standard documentation, parallel litigations, jurisdiction, choice of law, conflict of laws, cross-border contracts, off-exchange market, derivatives, close-out netting
This article written in Russian. You can find full text of article in Russian here .

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