Reference Market-makers - 1992 ISDA Provision

In gory detail

1992 ISDA “Reference Market-makers” means four leading dealers in the relevant market selected by the party determining a Market Quotation in good faith (a) from among dealers of the highest credit standing which satisfy all the criteria that such party applies generally at the time in deciding whether to offer or to make an extension of credit and (b) to the extent practicable, from among such dealers having an office in the same city. (view template)

2002 ISDA Template:ISDA Master Agreement 2002 Reference Market-makers (view template)

Commentary

Reference Market-makers are important figures if you are trying to determine a Market Quotation, which, that notion having been abolished by the 2002 ISDA, is something you're only likely to be doing under a 1992 ISDA.

See Also

• Market Quotation (1992 ISDA)
• Exposure (1995 CSA)