Template:M summ Credit Derivatives 3.32: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{cddprov|3.32}} There are times where the JC’s patience for the infinite, pernickety, paranoid, wilful attention to unnecessary detail that {{icds}} brings to its task runs out, and this is one such a place. Our nutshell version is as faithful a replication of this semantic superstructure as we can bring ourselves to recreate, but is still far more information than any fair-minded merchant should need, and is certainly more than anyone wants.") |
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{{cddprov|3.32}} There are times where the [[JC]]’s patience for the infinite, pernickety, paranoid, wilful attention to unnecessary detail that {{icds}} brings to its task runs out, and this is one such a place. Our nutshell version is as faithful a replication of this semantic superstructure as we can bring ourselves to recreate, but is still far more information than any fair-minded merchant should need, and is certainly more than anyone wants. | {{cddprov|3.32}} There are times where the [[JC]]’s patience for the infinite, pernickety, paranoid, wilful attention to unnecessary detail that {{icds}} brings to its task runs out, and this is one such a place. Our nutshell version is as faithful a replication of this semantic superstructure as we can bring ourselves to recreate, but is still far more information than any fair-minded merchant should need, and is certainly more than anyone wants. | ||
If you are physically settling a CDS because of ''only'' a {{cddprov|Restructuring}} — if any other {{cddprov|Credit Event}} happens, use that and don’t bother with this nonsense — then, bar one very limited circumstance which we will get to — | |||
Revision as of 11:11, 7 May 2023
3.32 There are times where the JC’s patience for the infinite, pernickety, paranoid, wilful attention to unnecessary detail that ISDA’s crack drafting squad™ brings to its task runs out, and this is one such a place. Our nutshell version is as faithful a replication of this semantic superstructure as we can bring ourselves to recreate, but is still far more information than any fair-minded merchant should need, and is certainly more than anyone wants.
If you are physically settling a CDS because of only a Restructuring — if any other Credit Event happens, use that and don’t bother with this nonsense — then, bar one very limited circumstance which we will get to —