China netting law drives interest in CSAs

Steady growth in contracts with CSAs suggests confidence that clean netting is near

China-stock

International banks are signing a growing number of credit support annex (CSA) agreements with their Chinese counterparties, which could jump-start the growth of derivatives markets once the country reaches certainty with regard to close-out netting.

“When and if close-out netting is recognised, business development will pick up significantly faster with CSAs already in place,” says Charles Feng, head of macro trading for Greater China and north Asia at Standard Chartered. “This is an important

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