Determination of Default Market Value - GMSLA Provision: Difference between revisions

Determination of Default Market Value - GMSLA Provision (view source)

543 bytes removed , 7 June 2021

Replaced content with "{{Manual|MSG|2010|11.4|Clause|11.4|short}}"

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-{{fullanatopen|gmsla|'''{{Nutshell}}''':<br>{{Nutshell GMSLA 11.4}}<br>'''Full text''':<br>{{2010 GMSLA 11.4}}}}
+{{Manual|MSG|2010|11.4|Clause|11.4|short}}
-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 {{gmslaprov|Default Market Value}}. If it hasn’t, it must get two or more reference [[market maker]] [[quotation]]s and average those.
-{{buy-in}}