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Default under specified transaction: Difference between revisions
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A [[default under specified transaction]], or "[[DUST]]", is a concept native to the {{isdama}} but which you may see in other master trading documentation (but not a {{gmsla}} or a {{gmra}}). | A [[default under specified transaction]], or "[[DUST]]", is a concept native to the {{isdama}} but which you may see in other master trading documentation (but not a {{gmsla}} or a {{gmra}}). | ||
[[DUST]] provides a right to terminate the master trading agreement in which it features upon a default by your counterparty under one or more transactions documented under ''different'' {{ | [[DUST]] provides a right to terminate the master trading agreement in which it features upon a default by your counterparty under one or more transactions documented under ''different'' master agreements{{c|Master Agreements}} ''between you and that same counterparty''. | ||
It can be compared to [[cross default]], which allows you to terminate your master agreement when the counterparty defaults under indebtedness ''to a third party'' (not you). | It can be compared to [[cross default]], which allows you to terminate your master agreement when the counterparty defaults under indebtedness ''to a third party'' (not you). | ||