者：金杜律师事务所 King & Wood Mallesons
国际掉期与衍生工具协会（简称“ISDA”）在金杜律师事务所跨境法律团队的协助下，于近期出版了2016年ISDA《中国抵押品备忘录》，该文件旨在为中国的市场参与者提供就其与对手方进行抵押品交易所涉及法律问题的指导。该备忘录对中国法条件下ISDA信贷支持文件中包含的抵押品权利的可执行性进行了深入全面的分析。
King & Wood Mallesons (KWM) has advised the International Swaps and Derivatives Association (ISDA) on the recent publication of the ISDA 2016 China Collateral Memorandum to assist market participants in navigating the legal issues involved in exchanging collateral with a counterparty in China. The ISDA 2016 China Collateral Memorandum analyses the enforceability of collateral rights contained in ISDA credit support documentation under Chinese law.
金杜跨境法律团队由中国、香港以及澳大利亚办公室的衍生工具、金融及破产业务团队组成。该项目的主导合伙人包括香港办公室萧乃莹律师、马绍基律师，中国办公室陈运律师、周昕律师、关峰律师和郝朝晖律师。澳大利亚办公室衍生工具业务领域专家合伙人Scott Farrell律师也为该备忘录的推出提供了支持。
The cross-border KWM team comprises our derivatives, finance and bankruptcy teams across the network from China, Hong Kong and Australia. The key partners involved in this project include Minny Siu and Richard Mazzochi of our Hong Kong team, and China partners Robert Chen, Stanley Zhou, James Guan and Daryl Hao. In Australia, derivatives specialist Scott Farrell also assisted in the development of the memorandum.
《中国抵押品备忘录》的出版紧随9月1日在数个法域最新实施的“非集中清算衍生品保证金要求”之后，该保证金框架由巴塞尔银行监管委员会与国际证监会组织联合发布，预计将会在更多法域陆续实施。
The publication of the China Collateral Memorandum follows the rollout of new margin requirements for non-cleared derivatives in some jurisdictions on September 1. Developed by the Basel Committee on Banking Supervision and International Organisation of Securities Commissions, the margin framework is expected to be implemented in other jurisdictions over time.