The International Swaps and Derivatives Association (ISDA) has introduced netalytics, a new online information resource for its members covering the validity and enforceability of the early termination and close-out netting provisions of the ISDA Master Agreement in 35 jurisdictions.
The Web site will contain all the netting opinions and updates commissioned by ISDA, as well as additional information, such as an overview of the legal position with respect to netting and relevant original netting legislation (if available), with an unofficial English translation.
Members will be able to determine at a glance whether they can enter into transactions with a counterparty organised in any of the jurisdictions covered by the ISDA Netting Opinions under the protection of the netting provisions of the Master Agreements. In addition, netalytics features cross-jurisdictional comparative analysis, which allows one or more of the key issues highlighted in the Netting Reports - such as automatic early termination - to be compared across one or more jurisdictions.
Expected to be available in the fourth quarter of 2001, netalytics was developed by Allen & Overy, an international law firm, and will be offered to ISDA members on a subscription basis.