Template:M comp disc 2002 ISDA Specified Transaction: Difference between revisions

Latest revision as of 19:12, 5 January 2024

A Specified Transaction under the 1992 ISDA is, by the standards of ISDA’s crack drafting squad™, monosyllabic to the point of being terse.

Under the 2002 ISDA, it is expressed with far more of the squad’s signature sense of derring-do and the Byzantine, expanding the basic definition:

Specifically to include things we have thunk of since 1992, such as futures, credit derivatives, repo, stock lending, weather derivatives,^[1] NDFs, transactions executed under terms of business; and
Generally to include similar transactions that are presently or in future become common in the financial markets — a neat a catch-all, designed to include any future pieces of financial wizardry (and/or mass destruction) that have not been thunk of just yet.

↑ Oh, look! Anyone remember Enron? Anyone feeling nostalgic for the good old days when men were men, fraud was fraud, financial accountants were profit centres and anything seemed possible? No?

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-===Different formulations between the versions===
+{{isda Specified Transaction comp|isdaprov}}
-A {{isdaprov|Specified Transaction}} under the {{1992ma}} is, by ISDA standards, monosyllabic to the point of being terse.
-Under the {{2002ma}} it is expressed with far more of ISDA's signature sense of the Byzantine, expanding the basic definition to specifically include [[futures]] [[credit derivatives]], [[repo]], [[stock lending]], [[weather derivative]]s,<ref>Oh, look! Anyone remember {{tag|Enron}}? Anyone feeling nostalgic for the good old days when men were men, fraud was fraud, financial accountants were profit centres and anything seemed possible?</ref>  [[NDF]]s, transactions executed under terms of business and other commodities or similar transactions that is presently or in future becomes common in the financial markets.