2011 ISDA Equity Derivatives Definitions
Ah, the ill fated 2011 ISDA Equity Derivatives Definitions. It seemed such a good idea. So advanced. So high-tech, incorporating the very latest mark-up language — the much vaunted Financial products Markup Language. There are Linklaters lawyers alive today — alive, though changed — who have not yet refilled the existential void hollowed out from their souls by the years lost to converting all that ludicrous text into FpML.
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Equity Derivatives Anatomy™
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It’s been eight years, and no-one’s using ’em. Not a single soul.
Yet, like one of those millennial cults which predicted the end of the world in June 2010, woke up with a surprise on the first of July, did a double take, scratched its head, and said “well it is coming, just not today”. ISDA, who manages the standard, is still confidently predicting that “all categories of privately negotiated derivatives will eventually be included within the standard”.
In the long run, maybe.[1]
See also
References
- ↑ “But this long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task, if in tempestuous seasons they can only tell us, that when the storm is long past, the ocean is flat again.” — John Maynard Keynes, A Tract on Monetary Reform (1923).