Article
Mar 27
Back

THE REPUBLIC OF SERBIA AS A PARTY TO ISDA MASTER AGREEMENT ON FINANCIAL DERIVATIVE TRANSACTIONS

Марија Вићић

10.5937/PiP2002329V
ABSTRACT /

This article summarizes Serbian legislative framework on regulation of financial derivative transactions on OTC market when a party to the transaction is the Republic of Serbia. Main focus of the article is the analysis of capacity and due authorizations of the Republic of Serbia as a sovereign state to enter into ISDA Master Agreement taking into account practical use and reach of that model agreement in commercial transactions. First part of the article explains background and history of ISDA Master Agreement and its general functioning and main principles. Second part of the article focuses on up to date Serbian legislation on financial derivative transactions on OTC market with a state as a party. Financial derivative transactions with the Republic of Serbia are regulated by the special bylaw rendered in mere end of 2019, however there are still numerous linked legislations which should be observed when the Republic of Serbia enters into financial derivative transaction under ISDA Master Agreement. We focused on budgetary regulations, public debt general rules, public procurement, foreign exchange operations and financial collaterals legislation in this article.

DOWNLOAD COMPLETE ARTICLE /
Serbian (cyr)  
REFERENCES /
  1. Vrana Paul E., Enochs Craig R., Mwamba Fundi A., How to Use the ISDA Master Agreement, 2002, доступно на адреси: https://utcle.org/elibrary, 12. 4. 2020.
  2. Вуковић Драгослав, „Трговински репозиторијум – нова инфраструктура тржишта ОТЦ деривата“, Банкарство, бр. 4/2012.
  3. Enochs Craig R., Pappenfus Jim, Bruner Ali, A Comparison of Terms Across Master Trading Agreements, 2019, доступно на адреси: https://utcle.org/elibrary, 12. 4. 2020.
  4. Еремић Милан, „Развој и актуелна структура глобалног тржишта деривата“, Финансије, бр. 1–6/2004.
  5. Јованић Татјана, „Правна природа споразума о нетирању и предуслови његове извршивости“, Банкарство, бр. 3–4/2008.
  6. Jomadar Bhushan Kumar, The ISDA Master Agreement – The Rise and Fall of a Major Financial Instrument, 2007, доступно на адреси: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1326520, 12. 4. 2020.
  7. Рудић Соња, Улога деривата у управљању валутним ризицима на финансијском тржишту Србије, Београд, 2016.