Undead ISDA: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{a|isda|450px|thumb|center|Uh-oh: honey — did I check the residual {{isdaprov|Cross Default}} risk on that old [[87 ISDA?]]...") |
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For while you can terminate a ''{{isdaprov|Transaction}}'' under an {{isdama}} the printed form does not envisage one terminating the [[master agreement]] itself. It has no general [[No-fault termination|termination on notice]] provisions so, unless you and your counterparty specifically confect to agree one, a discarded ISDA arrangement will lie there mute, transfixed, plastered to the infinite like some ghostly figure frozen at the [[event horizon]] of a [[black hole]] for ever — surviving, indefinitely, some believe even beyond the expiry of the very entities whose trading relationship it once described. | For while you can terminate a ''{{isdaprov|Transaction}}'' under an {{isdama}} the printed form does not envisage one terminating the [[master agreement]] itself. It has no general [[No-fault termination|termination on notice]] provisions so, unless you and your counterparty specifically confect to agree one, a discarded ISDA arrangement will lie there mute, transfixed, plastered to the infinite like some ghostly figure frozen at the [[event horizon]] of a [[black hole]] for ever — surviving, indefinitely, some believe even beyond the expiry of the very entities whose trading relationship it once described. | ||
Some would say this is a non-point, as un-alive as the ISDA that presents it. For an ISDA under which there are no extant transactions carries no material financial obligations. But that {{isdaprov|Cross Default}} clause... ''could it'' ... ? | |||
But even they who so haughtily wave concerns away yet still go quiet and will speak not of the [[Dark Lord]]. | |||
{{sa}} | |||
*The [[Good Man]] | |||
*The [[Dark Lord of the Swaps]] | |||
