2022 ISDA Securities Financing Transactions Definitions
Myths and legends of the market
The JC’s guide to the foundational mythology of the markets.™
“As it became obvious Flight 19 was lost, air bases, aircraft, and merchant ships were alerted. The sea over the last reported position was grid searched . After dark, a Linklaters SFT Mariner reconnaissance mission was diverted from a scheduled training flight to perform square pattern searches in the area west of the Synthesian Sea but in its first dispatches reported no remains that would suggest the wreckage of a single equity derivative, let along an entire booklet, were visible. If that were not horrifying enough, more tragedy was soon to strike. After calling in its routine radio update at 1930 hours, announcing that it was suspending its mission and returning to reality, Air Traffic Control lost contact with the Mariner. Neither the plane, nor her crew, nor its payload of securities financing transaction regulations were ever heard from again.”
- —J. Allen Cynek, Beyond The Bermuda Option Triangle
Interesting that the involved industry associations were not, even though it is 30 years late and their membership is as close to “common” as makes no difference, able to come together on this one. And ISDA’s claim to copyright is especially interesting.