Negotiating Skills for the ISDA Master Agreement: The Essential Playbook for Over-the-Counter Derivatives

I've found that the playbook lives up to its billing. It is exactly what the title suggests it is, a playbook. The playbook gives the reader exactly what s/he is seeking, if in fact, the reader is seeking an introduction to the structure ISDA Master Agreement, and a helpful guide through the intricacies of the most highly negotiated points of the ISDA Master Agreement. The author does a superb job in streamlining the material, and laying out the fundamentals of the ISDA Master Agreement, defining concepts, and the terms found therein, and defining the respective role of each party plays in trades transacted under an ISDA Master Agreement. Plus, he gives the reader a rationale behind each negotiating tip and drafting recommendation which he provides. The author literally, provides the reader with "real-world" sample language in which an ISDA Negotiator can use to "reduce the frequency and scope of events that permits a dealer to terminate transactions under an ISDA Master Agreement", which is the Negotiator's chief goal when negotiating an ISDA Master Agreement. I recommend the playbook for both new and experienced ISDA Negotiators, as the playbook provides invaluable and timely negotiating tips and drafting recommendations in light of the financial crisis of 2007-2008, and the recently enacted Dodd-Frank Legislation. The newly minted negotiator should start by enrolling in the author's course at the NYIF, which gives you a look at negotiating ISDA Master Agreements from a 10,000 feet and above perspective, and supplementing his/her training by filling in the gaps by purchasing and reading the playbook.

I bought this book because this book was said to cover CSA along with ISDA Master Agreements and Schedules. In this 272 page book, 80 pages are assigned to samples of ISDA Master Agreements, Schedules, and CSAs that we can get from the Internet for free. CSA section is only 36 pages long, and the section superficially explains CSA. You can find better CSA reference material from the Internet. About Master Agreements and Schedules, this book is not even close to Mastering the ISDA Master Agreements (third edition) from Prentice Hall, which unfortunately does not cover CSA. This "Negotiating Skills" even made me want to write a book about CSA. If you need a reference book to review ISDA Schedules, get the aforesaid Mastering the ISDA Master Agreements. This book offers some explanation on CSA but is supplementary at the most.

This is a very difficult book to read. I purchased it because we were considering financial deals that involved these types of structures. I did not need to negotiate but wanted material to help understand the landscape. This definitely was not the book.

I found this book to be very helpful in that it was concise and easy for someone without a legal background to understand. Not sure what the previous reviewer had expected, but the book's intent is clearly not to be a long-winded analysis of the CSA. In my opinion, the 36 pages of material more than enough covers the CSA - a document that's typically 14 pages. Overall, I would recommend this book to anyone who's looking to gain a better understanding of ISDA Master Agreements without having to sift through an enormous amount of information.

At first, I was concerned with one negative review. However, I found it relevant in light of the current regulatory environment and the increased focus on counterparty risk and CSAs. Is there a plan for a kindle edition.

Negotiation Skill for the ISDA Master Agreement is a great book to get an overview on the complex world of derivatives. In the beginning the author explains what the ISDA Master Agreement is and especially what derivatives are. The illustration are easy to understand. Even for lays. And compared to other books about derivatives and the ISDA Master Agreement you don't get thousand of pages of information and forget what you are reading while you are reading it. I can only recommend this book.