Template:M summ Pledge GMSLA 11.4: Difference between revisions

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{{gmsla 11.4 summ|pgmslaprov}}
[[11.4 - GMSLA Provision|How]] you value a [[mini close-out]] where a party can’t redeliver a stock (because it’s been suspended or something). It boils down to how you value either leg of the trade.
 
If the {{gmslaprov|Non-Defaulting Party}} has actually sold securities {{gmslaprov|equivalent}} to those it lent, in can treat the price it got as the {{gmslaprov|Default Market Value}}. If it hasn’t, it must get two or more reference [[market maker]] [[quotation]]s and average those.
 
{{Gmsla deliverable and receivable securities capsule|gmslaprov}}
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