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| ===''Final'' {{eqderivprov|Valuation Date}}===
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| The {{eqderivprov|Valuation Date}} concept assumes you have a {{isdaprov|Transaction}} that will run to its term. For you cheeky [[synthetic prime brokerage]] types who write your [[Equity Swaps - Equity Derivatives Provision|Equity Swaps]] as if they were undated [[delta-one]] exposures — which, unless the [[Tax attorney|Master in Charge of Tax]] is looking, they ''are'' — your [[master confirmation]] will need to create an extra, bonus, ''final'' {{eqderivprov|Valuation Date}} as of the {{eqderivprov|Optional Early Termination Date}}, otherwise on closing out a position you might find yourselves harking back to a {{eqderivprov|Valuation Date}} that happened in that happier, gentler time that was two or three weeks ago.
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| ===The {{eqderivprov|Calculation Period}} that didn’t bark in the night-time===
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| Where, oh where, are the {{eqderivprov|Calculation Period}}s {{eqderivdefs}}? Ok so this is a bit of a trick question. There are ''no'' “{{eqderivprov|Calculation Period}}s” — that is instead defined in the [[2006 ISDA Definitions]]. In the {{eqderivdefs}}, the periods for Equity calculations are handled by the “{{eqderivprov|Valuation Date}}” concept.
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| That in turn determines the “{{eqderivprov|Cash Settlement Payment Date}}” (for cash-settled {{eqderivprov|Equity Swap Transaction}}s) and “{{eqderivprov|Settlement Date}}” (for [[Physical settlement|physically settled]] ones).
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| You may see a {{eqderivprov|Calculation Period}} on the [[Floating leg|Floating]] leg of an [[equity swap]] though - that will be a reference to the [[2006 ISDA Definitions]].
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| ===[[Bullet swap]]s===
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| Some times you will trade “[[bullet swap|bullet swaps]]” which do not have a {{eqderivprov|Valuation Date}}. Being the tortured language of {{icds}}, there is no straightforward concept in the definitions of a swap which has no {{eqderivprov|Valuation Date}}s other than the {{eqderivprov|Termination Date}}, so expect wildly ungainly language in confirms to express that fairly simple idea.
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Revision as of 13:36, 11 May 2022