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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Ilya Sapunov
Repurchase Agreement
Jurisprudence
(Bachelor’s programme)
2016
The research analyses the modern Russian legislation and judicial practice on repurchase agreements (repos).

The aim of research is the definition of repo's legal nature. The main objectives are: to formulate the concept of repurchase agreement, to distinguish from related contracts, and to find out the particularities of repo when one of the counterparties becomes insolvent (close-out netting provision).

The main outcomes of research are follows:

Repurchase agreement is a special form of purchase contract and sale of securities. It is distinguished from loan secured by pledge because in a pledge there is no transfer of ownership. Moreover, this transfer of ownership is not a way to circumvent rules that regulate pledge but peculiar legal institute.

Also, the self-regulation is very important for repurchase agreements. Adherense to these standards allows counterparties to enforce close-out netting provision.

Considering repo in insolvency, we assume that close-out netting is a very necessary instrument that transforms all of the counerparties' obligations in one net obligation. If this institute helps to keep finance system stable, it is considerable to apply close-out netting provision automatically.

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