ВНЕБИРЖЕВЫЕ ДЕРИВАТИВЫ И ДОБРОСОВЕСТНОСТЬ УЧАСТНИКОВ РЫНКА: ОБЗОР НАКОПИВШИХСЯ ПРОБЛЕМ

Закон. 2021. № 10. С. 51–81.

Selivanovskiy A.

In most OTC derivatives contracts, there is a power imbalance between the parties: the financial institution (the strongest party) has the expertise and experience in futures transactions and submits the contract documentation, while its client (the weakest party) often has no relevant experience and is confronted with such financial instruments for the first time. In some cases, banks impose hedging transactions on their clients. This raises the question of the bona fides of the parties in derivative relationships. The article discusses disputes from Russian arbitrazh (commercial) practice, where the main issue was the good faith of the financial institution while preparing, concluding and executing the contract.

Keywords: хеджирование, производные финансовые инструменты, derivatives, деривативы, добросовестность, hedging, брокер, договорная диспропорция, информационная диспропорция, процессуальная диспропорция, good faith, brokers, contractual disproportion, procedural disproportion, information disproportion, мисселинг, derivative financial instruments, OTC derivatives, professional securities market participants, weak party agreement, misselling, внебиржевые деривативы, профессиональные участники рынка ценных бумаг, слабая сторона договора