Flight 19

From The Jolly Contrarian
Jump to navigation Jump to search
Myths and legends of the market
The JC’s guide to the foundational mythology of the markets.™
Flight 19.png
The doomed Linklaters squadron shortly before embarking on the fateful drafting run.(von Sachsen-Rampton, 1953)
Index: Click to expand:

Comments? Questions? Suggestions? Requests? Insults? We’d love to 📧 hear from you.
Sign up for our newsletter.

Flight 19 was the designation of a group of five Linklaters FPML Avenger syntax bombers that disappeared on June 30, 2011, after losing contact with reality during a routine redrafting of the 2002 ISDA Equity Derivatives Definitions. It is believed the crew were attempting triangulating the definitions of various exotic Options, and the area of the financial markets in which they came to grief has been known, ever since, as the “Bermuda Option Triangle”. Neither the lawyers nor the nascent definitions booklet — the fabled 2011 ISDA Equity Derivatives Definitions — nor indeed the Linklaters SFT Mariner flying boat sent out on a rescue mission to comb the area for survivors, have been heard from since.

In the meantime, spurred on by that low curdler of fi-fi potboilers, Hunter Barkley, a conspiracy industry has grown up around Flight 19, the fabled Atlantis Agreement of 2008,[1] the 2013 Standard CSA, and other ill-fated modernising initiatives of the evangelising men and women of ISDA’s crack drafting squad™, including most recently the 2022 ISDA Securities Financing Transactions Definitions.

In the meantime, no-one mention smart contracts, at least not while the latest quixotic mission of the Worshipful Company of Derivatives Salespeople unfolds before our disbelieving eyes. Blockchain ahoy!!

See also


  1. Flight 19 makes a gratuitous appearance in the middle act of Barkley’s dreary The Atlantis Variation.