Major Exotic Options Practitioners Draft Standard Trading Agreements
BANKS
A group of exotic FX options trading chiefs at 18 global banks in London have come up with two alternate draft counterparty agreements that would standardise trading terms in "barrier" currency options, according to the head of the ad hoc group, known as the Exotic Options Steering Committee. The committee, which was set up by Dresdner Bank's global exotic options chief, Martin Gymer, worked out the draft documents under the auspices of the British Bankers Association, Gymer says.
He says the
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