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Default under specified transaction: Difference between revisions
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{{g}}''For the {{isdama}} provision specifically see {{isdaprov|Default Under Specified Transaction}}''<br> | {{g}}''For the {{isdama}} provision specifically see {{isdaprov|Default Under Specified Transaction}}''<br> | ||
A [[default under specified transaction]], or “[[DUST]]”, is a concept native to the {{isdama}} but which you may see in other master trading documentation (but not a {{gmsla}} or a {{gmra}}). | A [[default under specified transaction]], or “[[DUST]]”, is a concept native to the {{isdama}} but which you may see in other master trading documentation (but not a {{gmsla}} or a {{gmra}}). [[DUST]] gives a fellow the right to terminate the master trading agreement upon a default by {{sex|her}} [[counterparty]] under one or more transactions documented under ''different'' {{tag|Master Agreements}} ''between you and that same counterparty''. | ||
[[DUST]] gives a fellow the right to terminate the master trading agreement upon a default by {{sex|her}} [[counterparty]] under one or more transactions documented under ''different'' {{tag|Master Agreements}} ''between you and that same counterparty''. | |||
Compare and contrast with [[cross default]], which allows you to terminate your master agreement when the counterparty defaults under indebtedness ''to a third party'' (not you). | Compare and contrast with [[cross default]], which allows you to terminate your master agreement when the counterparty defaults under indebtedness ''to a third party'' (not you). | ||
{{sa}} | {{sa}} | ||
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*{{isdaprov|Default Under Specified Transaction}} (ISDA) | *{{isdaprov|Default Under Specified Transaction}} (ISDA) | ||
*[[Event of default]] | *[[Event of default]] | ||
{{ref}} | {{ref}} | ||