A user-friendly guide to these complex Definitions for market practitioners and those new to credit derivatives documentation. In addition to a comprehensive section by section commentary on the Definitions themselves, this book ensures that you understand: The evolution of the global credit derivatives market, the main credit derivative products and risks associated with them. Legal issues affecting credit derivatives and some causes celebres. New developments in the credit derivatives market, including master confirmation agreements, ISDA credit derivatives documentation projects and electronic processing of credit derivatives contracts. Includes a glossary of key terms used in the Definitions and reproduction of the Definitions, the May 2003 Supplement to the Definitions and the 60 Business Day cap side letter all reproduced with the kind permission of the International Swaps and Derivatives Association, Inc.