Inter-affiliate ISDA negotiation: Difference between revisions

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''With apologies to [http://www.gutenberg.org/files/1023/1023-h/1023-h.htm Charles Dickens]''

The idea first struck Wickliffe Hampton’s London trading desk that it should hedge its own [[debt value adjustment]]s by laying them off to its German affiliate, Wickliffe Hampton Deutschland GmbH, as it then was, in 1996. A quick conversation between the desks settled that this might be a mutually beneficial arrangement — ''Deustchland'' had its own, own-credit risk to manage, after all, and couldn’t they swap them? The transaction management process was invoked, a request raised  to put in place the necessary contract documentation, a {{1992ma}}, following the prompt conclusion of which the pair of affiliates could scratch each others’ revenue-stating backs cheaply, effectively and the for the hereafter.