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{{fullanatopen|gmsla|'''{{Nutshell}}''':<br>{{Nutshell GMSLA 11.4}}<br>'''Full text''':<br>{{2010 GMSLA 11.4}}}} | {{fullanatopen|gmsla|'''{{Nutshell}}''':<br>{{Nutshell GMSLA 11.4}}<br>'''Full text''':<br>{{2010 GMSLA 11.4}}}} | ||
How you value a [[mini close-out]] where a party can't redeliver a stock (because it's been suspended or something). It boils down to how you value either leg of the trade. | |||
If the {{gmslaprov|non defaulting party}} has actually sold securities {{gmslaprov|equivalent}} to those it lent, in can treat the price it got as the {{gmraprov|Default Market Value}}. If it hasn’t, it must get two or more reference dealer quotes and average those. | |||
{{buy-in}} | {{buy-in}} |