Template:M summ Equity Derivatives 1

If you are looking for literature to broaden your earthly perspective, or shine a torch into the dark crevices of the human condition, the 2002 ISDA Equity Derivatives Definitions might not be the first volume you would pull off the shelf, but in its own way, in its Escheresque self-referencing reflexivity, it affords us an oblique perspective on the motivations of those who operate in the strange demi-monde of the international capital markets. Quotidian things which any fool knows instinctively without needing to be told are said, said, and said again; things which even a careful analyst would prefer greater elucidation — like what counts as a “Dividend” — are left thrillingly under-determined. The definitions bear the everyone has sort of put up with it, and got used to it. They were meant to be superseded, in 2011, by the 2011 Equity Derivatives Definitions, thrillingly written by a squadron of chatbots from Linklaters in bang-up-to-date, state-of-the-art, super duper hi-tech Financial products Markup Language, but — well, every one still uses the stupid old 2002 versions. The JC being in the first rank a pragmatist, you will find little information here about the newer booklet — other than the odd wry remark about the Hindenburg, and the mortal scarring to those poor folk at Linklaters who wrote the damn things, but plenty about the ghastly old 2002 ISDA Equity Derivatives Definitions — a whole anatomy dedicated to that — seeing as that is what everyone still uses.