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→Netting between legal entities established in England and Wales
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But why on God’s green earth would anyone do that? A question you might want to ask to the drafters of the {{tag|FIA}}'s [[Professional Client Agreement]], which does ''exactly'' that. | But why on God’s green earth would anyone do that? A question you might want to ask to the drafters of the {{tag|FIA}}'s [[Professional Client Agreement]], which does ''exactly'' that. | ||
===Netting between legal entities established in [[England and Wales]]=== | ===[[Netting]] between legal entities established in [[England and Wales]]=== | ||
In November 1993 — not long after the publication of the {{1992isda}}, the Financial Law Panel (these days the [[Financial Markets Law Committee]] published a [http://www.fmlc.org/uploads/2/6/5/8/26584807/191193.pdf Statement of the Law relating to Netting] which, more or less, confirmed that not only is netting permissible between English entities on an insolvency; it’s compulsory, whether or not you have an {{isdama}}. Therefore one doesn’t need a [[netting opinion]] for domestic English swap agreement. Hurrah. | In November 1993 — not long after the publication of the {{1992isda}}, the Financial Law Panel (these days the [[Financial Markets Law Committee]]) published a [http://www.fmlc.org/uploads/2/6/5/8/26584807/191193.pdf Statement of the Law relating to Netting] which, more or less, confirmed that not only is netting ''permissible'' between English entities on an insolvency; it’s ''compulsory'', whether or not you have an {{isdama}}. Therefore one doesn’t need a [[netting opinion]] for domestic English swap agreement. Hurrah. | ||