Template:M comp disc 1992 ISDA Market Quotation

Market Quotation and Loss were originated in the 1987 ISDA, were refined in the 1992 ISDA and then unceremoniously ditched as Transaction valuation concepts under the 2002 ISDA in favour of Close-out Amount, which is closer to Loss, but still a bit different.

Here is a comparison between the 1987 and 1992 versions of Market Quotation. Quite a lot of fiddling around, as you will see. But all in vain. Did it make much difference? At this remove, nearly forty years on, do we care?

Americans probably do.