Financial Derivatives and Private International Law: Some Remarks

Sergio Carbone

Open Economies Review, 2000, vol. 11, issue 1, 235-245

Abstract: Financial derivatives are a product of financial innovation that is not possible to define by means of Italian legal definitions; the primary source of regulation for financial derivatives is the international trade law. Private autonomy plays a central role in derivatives transaction, and such party autonomy must be recognized by the sovereign state to be legally effective and enforceable. Standard derivatives contracts, although sophisticated, cannot eliminate totally the legal risk. This lacking, together with the problem of unclear identification of the jurisdiction applicable, makes the juridical aspects of derivatives more complex. Copyright Kluwer Academic Publishers 2000

Keywords: derivatives; financial innovation; private international law (search for similar items in EconPapers)
Date: 2000
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DOI: 10.1023/A:1008373827205

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