From The Jolly Contrarian
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| ====“{{{{{1}}}|Base Currency Equivalent}} of [[bid price]]”====
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| It is not unknown to amend limb (ii) to include "the {{{{{1}}}|Base Currency Equivalent}} of the bid price obtained by the {{{{{1}}}|Valuation Agent}} ''multiplied by the nominal amount of such security''".
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| This is presumably to cater for the pedantic argument — just the sort of argument that a diligent [[legal eagle]] with nothing better to do loves to run — that a “[[bid price]]” could be a percentage figure of a nominal amount, instead of a cash value, and this might upset the calculation. I mean, really.
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| But even if a “price” isn’t necessarily a [[cash]] amount — to be sure, trading folk ''do'' talk that way sometimes, even if most sensible working folk don’t — the idea of the “{{{{{1}}}|Base Currency Equivalent}}” of that price certainly turns it into one. You can’t exactly have “USD 86%”, can you? And if the {{{{{1}}}|Eligible Credit Support}} includes [[collateral]] other than [[cash]] or [[Debt security|debt instrument]]s (e.g., [[equities]]), reference to a nominal amount multiplier is potentially confusing.
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Latest revision as of 07:50, 27 June 2024