82,853
edits
Long-form confirmation: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
{{a|isda|}}A [[long form confirmation]], or “'''{{tag|LFC}}'''”, generally refers to the documentation for a financial transaction between two parties which have not (yet) formally signed a [[master agreement]] for that type of transaction. Instead they document the trade on a “long form” which deems a basic version of the relevant master agreement be in existence between the parties for the purposes of the transaction. | {{a|isda|}}A [[long form confirmation]], or “'''{{tag|LFC}}'''”, generally refers to the documentation for a financial transaction between two parties which have not (yet) formally signed a [[master agreement]] for that type of transaction. Instead they document the trade on a “long form” which deems a basic version of the relevant master agreement be in existence between the parties for the purposes of the transaction. | ||
This used to be totally cool but for many years the sober and upright legal fraternity have frowned madly on this format, and it is now shunned and | This used to be totally cool but for many years the sober and upright legal fraternity have frowned madly on this format, and it is now shunned, marginalised and cast out to the fringes of polite financial society. Particularly popular among lazy writers like [[Hunter Barkley]] (yes - he of the Opco Boone series), it frequently features as a McGuffin in the [[Finance Fiction]] canon and, when we get around to it, will feature in our [[Long form confirmation - FWMD|FWMD Top Trumps]] catalog. | ||
====Example: ISDA LFC==== | ====Example: ISDA LFC==== | ||