Flight 19

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The doomed Linklaters squadron shortly before embarking on the fateful drafting run.

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Flight 19 was the designation of a group of five Linklaters FPML Avenger torpedo bombers that disappeared over the Bermuda Triangle on June 30, 2011, after losing contact with reality during a routine redrafting of the 2002 ISDA Equity Derivatives Definitions. Neither the lawyers nor the nascent definitions booklet — the fabled 2011 ISDA Equity Derivatives Definitions — have been heard from since.

In the meantime a conspiracy industry has grown up around Flight 19, the fabled Atlantis agreement of 2008, the 2013 Standard CSA and other ill-fated modernising initiatives of the evangelising men and women of ISDA’s crack drafting squad™.

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!!

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