Template:M premium 2002 ISDA 2

• “Flawed Assets” generally
• What is meant by “payments” and “deliveries”, related conceptual matters, especially as regards “delivery”
• Modern electronic clearance as a practical control
• Wry speculation about what should happen if a counterparty changes its address to somewhere stupid, just to annoy everyone.
• Multiple Transaction Payment Netting — what’s that all about
• Transaction and collateral flows
• The curious timing lapse between transaction payments and collateral marks, and the not particularly good reason why they don’t net settle.