Lawyers say dealers are looking to update playbooks for terminating derivatives trades
Banks have been looking to update procedures for dealing with over-the-counter derivatives close-outs and margin calls following the recent bout of US tariff-driven market turbulence, according to lawyers.
The market volatility that followed US President Donald Trump’s back-and-forth tariff announcements has had financial institutions contacting lawyers to tighten up their internal playbooks for dealing with collateral calls and close-outs, where a trade is terminated early if a counterparty
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