Key points

The proliferation and complexity of derivatives continues to grow.

• New York and London have built up a body of precedent and judicial expertise. In London, the judicial response is centred around the specialist Financial List and the Test Case Scheme.
• These have helped ensure the judiciary keeps apace with market developments.
• However, judges from many jurisdictions grapple with understanding the complexities inherent in derivatives.
• There is a growing trend towards commercial arbitration of disputes but calibrated incorrectly, this could impede the development of precedent and more generally conflict with open justice principles.
• P.R.I.M.E. Finance offers judicial training, industry education, the establishment of a database of case law, the provision of expert opinion and arbitration.
• Arbitral bodies inherently are primed to privacy, and finality of judgments.
• In order to work in harmony with courts, we set out a template for deciding which cases should be litigated, and which arbitrated and explore the challenges.

中文翻译：

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帝国反击：衍生品纠纷、财务清单、测试案例方案和仲裁

关键点

衍生品的扩散和复杂性继续增长。

• 纽约和伦敦已经建立了一套先例和司法专业知识。在伦敦，司法回应以专家财务清单和测试案例计划为中心。
• 这些有助于确保司法机构跟上市场发展的步伐。
• 然而，许多司法管辖区的法官都在努力理解衍生品固有的复杂性。
• 争议的商业仲裁有日益增长的趋势，但校准不正确，这可能会阻碍先例的发展，更普遍地与公开正义原则相冲突。
• PRIME Finance 提供司法培训、行业教育、案例法数据库的建立、专家意见和仲裁的提供。
• 仲裁机构本质上以隐私和判决的终局性为前提。
• 为了与法院协调工作，我们制定了一个模板来决定哪些案件应该诉讼，哪些案件应该仲裁并探索挑战。