DLA PIPER IS IMPLEMENTING ISDA DOCUMENTATION STANDARDS IN UKRAINE
DLA Piper Ukraine, Kyiv, Ukraine,
Thu, May, 25, 2017
DLA Piper Ukraine is teaming up with main national securities and banking associations to help implement standard local templates to document derivative trades on the OTC market. The implementation of the master agreement will enable Ukrainian corporates to utilise derivatives on the local market and improve their own capabilities to manage risks and capital.
The Master Agreement will be drafted by a working group, which included Dmytro Pshenichniuk, Senior Associate of DLA Piper Ukraine, and Oleksandr Kurdydyk, Partner and Head of Finance and Projects Practice of DLA Piper Ukraine. During the first meeting, the working group has discussed a various types of financial transactions that are necessary for local market and overall strategy for implementation of derivatives documentation in Ukraine.
Together with DLA Piper, the working group includes top Ukrainian banks Citibank, PrivatBank, Alfa-Bank, OTP Bank, investment companies Dragon Capital, Concord Capital, Investment Capital Ukraine, UNIVER Capital, agricultural holdings Kernel and Uspih. The meeting was attended by representatives from the National Depository and Settlement Centre.
The establishment of a working group was initiated by the Professional Association of Capital and Derivatives Market Participants and the Public Organization ACI Ukraine.
The next step will be a questionnaire to determine legal design and structure of the documentation.