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Hungarian Forex Publishes OTC Derivatives Documentation

The Hungarian Forex Association (HFA) has published the 1999 Hungarian Forex Association Definitions, to provide a common set of terms to use in preparing confirmations for privately negotiated derivatives transactions involving the Hungarian Forint and other Hungarian underlying cash markets. 

The HFA has also released the 1999 Hungarian Forex Association Supplement to the 1992 ISDA Master Agreements, which consists of standard amendments that the parties may wish to make to a 1992 ISDA Master Agreement when at least one party is resident or organised in Hungary.

“This standard form documentation should assist the smooth and efficient functioning of privately negotiated derivatives activity involving Hungarian markets by providing a basic framework and a common vocabulary,”  says Sandor Sebok, President of HFA.

The documentscan be ordered as a set for $25.00 from HFA through the offices of Allen & Overy in Budapest, Tel +(36-1) 268-1511; Fax +(36-1) 268-1515; e-mail: peter.danko@allenover.com or jonathan.porteous@allenovery.com.<?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” />

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