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Enron Mail |
I'm in the need of informing the whole team that Argentina through the
Argentine Association of Derivatives has developed a document that's circulating in the market and will surely be optimised to the extent that Argentine companies will use it in the near future if not inmediately. This document has been prepared by experienced groups of professionals with foreign support on terms of credit and legal issues. My impression is that will be competing against that document in a great deal of disadvantage. This disadvantage will be a "cultural" disadvantage from the moment that latin american countries tend to have "shorter" documents written in the local language where the transaction is taking place. If the ISDA was at least written in Spanish (rather than French or German) it would be of great help. This is an issue that really "tickles" me: Why isn't the ISDA document translated into Spanish being that it is after English probably the language most spoken through out the globe and second that there's much more opportunity of selling Risk Management Products to Latin American countries rather than French companies through my more than disappointing experience in trying to close a deal with French Total. I believe Sara's visit would be more that important. I'll try to forward everybody a copy of the document that was drafted in Argentina for everybody's info. I strongly believe in the matters of evolution and I'm sure that in the future ESA's market will mature in such a way that will just like Enron Europe a document to match market's needs.
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