ISDA Anatomy: Difference between revisions

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{{a|isda|{{image|pageguide|png|Finding your way around the ISDA Anatomy, for those not minded to work it out for themselves.}}}}Here is the great landing page for the ISDA Master Agreement in all its beautiful articulations. There is a lot of information here: budding ninjas may just be amped up to dive in to the clause table a the bottom. For those seeking a gentler introduction to the world of derivatives — [[financial weapons of mass destruction]] (© Warren Buffett) after all, so to be handled with care — here is a quick overview:
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===The Anatomy===
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In the table below, your gateway to the in-depth clause-by-clause and subclause-by-subclause analysis. Each page contains:
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*The actual clause of the ISDA agreement
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*Our [[Plain English|plain English]] “[[Nutshell - ISDA|nutshell]]” summary of that clause
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*A “comparison” section, summarising the differences between the corresponding clauses in the {{1992ma}} and the {{2002ma}}.
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*A “summary” section, explaining what the clause does, how it works, frequent amendments to it, and controversies in the ISDA community.
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*An optional “general” section, for those clauses of frequent controversy, going into a little more detail; and
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*An even-more-optional “details” section, that dives into the paranoid beating heart of [[ISDA Ninja|ISDA Ninjery]] — though this is reserved for really special occasions.
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You can also access the clauses alphabetically from the nifty little dropdowns in the infobox on the right of every page.
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===the [[JC]]’s [[plain English]] ISDA===
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Ever thought it would be great to have a summarised, de-pedantified, {{isdama}} in a single place you could read through without feelings of remorse, loathing and an incoming migraine? Fear not! There is one! Here is [[JC]]’s whole, nutshell, [[Nutshell ISDA|plain English ISDA in one place]]!
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=={{isdaprov|12}}. {{isdaprov|Notices}}==
Okay, and what about a side-by-side summary of the whole ''pain''-English, full ISDA and the JC’s lovely, airy, high fibre, plain-English nutshell summary? Again, [[Side-by-side ISDA and Nutshell|we’ve got you covered]].
=={{isdaprov|13}}. {{isdaprov|Governing Law and Jurisdiction}}==
===Booklets and whatnot===
=={{isdaprov|14}}. {{isdaprov|Definitions}}==
We also have anatomies of some — not all — of ISDA’s product booklets and credit support annexes, the most developed of which  (including [[Equity Derivatives Anatomy|Equity Derivatives]] and [[Emissions Annex Anatomy|EU Emissions Allowances]] are in the side-bar on the right under “Anatomies”.
*{{isdaprov|Additional Representation}}
===Introductory material===
*{{isdaprov|Additional Termination Event}}
What is a [[swap]], as explained to my neighbour Phil. We developed these [[Category:Cut out and keep|cut-out-and-keep]] explainers to help Phil swot for his exams to be a tour guide to the city of London. (He passed!)
*{{isdaprov|Affected Party}}
*{{isdaprov|Affected Transactions}}
*{{isdaprov|Affiliate}}
*{{isdaprov|Agreement}}
*{{isdaprov|Applicable Close-out Rate}} ([[2002 ISDA Master]] only)
*{{isdaprov|Applicable Deferral Rate}}
*{{isdaprov|Automatic Early Termination}}
*{{isdaprov|Burdened Party}}
*{{isdaprov|Change in Tax Law}}
*{{isdaprov|Close-out Amount}} ([[2002 ISDA Master]] only)
*{{isdaprov|Confirmation}}
*{{isdaprov|consent}}
*{{isdaprov|Contractual Currencymage}}
*{{isdaprov|Convention Court}}
*{{isdaprov|Credit Event Upon Merger}}
*{{isdaprov|Credit Support Document}}
*{{isdaprov|Credit Support Provider}}
*{{isdaprov|Cross-Default}}
*{{isdaprov|Defaulting Party}}
*{{isdaprov|Designated Event}}
*{{isdaprov|Determining Party}}
*{{isdaprov|Early Termination Amount}}
*{{isdaprov|Early Termination Date}}
*{{isdaprov|electronic messages}}
*{{isdaprov|English law}}
*{{isdaprov|Event of Default}}
*{{isdaprov|Force Majeure Event}}
*{{isdaprov|General Business Dayw}}
*{{isdaprov|Illegality}}
*{{isdaprov|Indemnifiable Tax}}
*{{isdaprov|law}}
*{{isdaprov|Local Business Day}}
*{{isdaprov|Local Delivery Day}}
*{{isdaprov|Master Agreement}}
*{{isdaprov|Merger Without Assumption}}
*{{isdaprov|Multiple Transaction Payment Netting}}
*{{isdaprov|Market Quotation}} ([[1992 ISDA Master]] only)
*{{isdaprov|Loss}} ([[1992 ISDA Master]] only)
*{{isdaprov|Non-affected Party}}
*{{isdaprov|Non-default Rate}}
*{{isdaprov|Non-defaulting Party}}
*{{isdaprov|Office}}
*{{isdaprov|Other Amounts}}
*{{isdaprov|Payee}}
*{{isdaprov|Payer}}
*{{isdaprov|Potential Event of Default}}
*{{isdaprov|Proceedings}}
*{{isdaprov|Process Agent}}
*{{isdaprov|rate of exchange}}
*{{isdaprov|Relevant Jurisdiction}}
*{{isdaprov|Schedule}}
*{{isdaprov|Scheduled Settlement Date}}
*{{isdaprov|Set-off}}
*{{isdaprov|Specified Entity}}
*{{isdaprov|Specified Indebtedness}}
*{{isdaprov|Specified Transaction}}
*{{isdaprov|Stamp Tax}}
*{{isdaprov|Stamp Tax Jurisdiction}}
*{{isdaprov|Tax}}
*{{isdaprov|Tax Event}}
*{{isdaprov|Tax Event Upon Merger}}
*{{isdaprov|Terminated Transactions}}
*{{isdaprov|Termination Currency}}
*{{isdaprov|Termination Currency Equivalent}}
*{{isdaprov|Termination Event}}
*{{isdaprov|Termination Rate}}
*{{isdaprov|Threshold Amount}}
*{{isdaprov|Transaction}}
*{{isdaprov|Unpaid Amounts}}
*{{isdaprov|Waiting Period}}


{{isdaanatomy}}
Then there’s the [[Swap history|history of the ISDA Master Agreement]] (some of which [[Children of the Woods|we freely admit we made up]]), and long, impassioned and liable-to-fall-upon-deaf-ears screeds about [[Close-out Netting]], the need for [[netting opinions]] [[When variation margin attacks|variation margin]], and various other things.
__NOTOC__
===[[Financial weapons of mass destruction]]{{tm}} corner===
We are developing our own game of [[FWMD Top Trumps]]. It is what every neurotic millennial needs: Have fun ''and'' fret about forthcoming financial [[oblivion]]!
===The ISDA rabbithole===
Late, for a very important date? Then strap yourselves in, readers...
{{isda clause table}}