Template:Isda Specified Transaction comp: Difference between revisions
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A {{isda92prov|Specified Transaction}} under the {{1992ma}} is, by the standards of {{icds}}, monosyllabic to the point of being terse. But that is as nothing compared to the {{1987ma}}, which wasn’t even called a Specified Transaction, but was just a Specified ''Swap''. | |||
Under the {{2002ma}}, 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 derivative]]s,<ref>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?</ref> [[NDF]]s, 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]] [[Financial weapons of mass destruction|mass destruction]]) that have not been thunk of just yet. | |||
Latest revision as of 14:54, 15 August 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. But that is as nothing compared to the 1987 ISDA, which wasn’t even called a Specified Transaction, but was just a Specified Swap.
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.