Just as the Queensberry rules govern the sport of boxing, financial contracts in over-the-counter markets follow legal documentation known as master agreements. Derivatives, repo and securities lending each have their own master agreement, created and maintained by separate industry associations – much like the different belts from rival bodies in boxing. Now, the International Swaps and Derivatives Association has suggested merging all three master agreements into one single document.
The full article is available at https://www.risk.net/derivatives/7854486/isdas-master-master-agreement-courts-controversy