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

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

702 bytes removed , 7 June 2021

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

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-{{gmslaanat|11.4}}
+{{Manual|MSG|2010|11.4|Clause|11.4|short}}
-{{2010 GMSLA Section 11 TOC}}
-{{seealso}}
-*{{gmslaprov|11.2}} which is the foundation stone of the close-out procedure.
-*{{gmslaprov|11.4}}, {{gmslaprov|11.5}} and {{gmslaprov|11.6}} of the {{gmsla}} which fully detail the {{tag|close-out}} procedure.
-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}}