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International Comparative Legal Guides Derivatives 2026

International Comparative Legal Guides Derivatives 2026
Published Date
Jul 14 2026
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This piece explores the termination and close-out provisions of ISDA Master Agreements, the standard framework for documenting derivatives transactions. It examines how parties may exercise broad termination rights—both standard and negotiated—during periods of market volatility to manage counterparty credit risk.

The discussion covers the mechanics of termination under the 1992 and 2002 ISDAs, including the process for determining close-out valuations and key legal and market practice considerations under New York law.

This piece was first published here: https://iclg.com/practice-areas/derivatives-laws-and-regulations/02-close-out-under-the-1992-and-2002-isda-master-agreements/

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