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Template:AI 2021 ISDA Interest Rate Derivatives Definitions: Difference between revisions
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Template:AI 2021 ISDA Interest Rate Derivatives Definitions (view source)
Revision as of 13:08, 11 April 2023
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The [[2021 ISDA Interest Rate Derivatives Definitions]] were published on June 11, 2021 in wholly digital form, and are designed to ensure ISDA’s ability to corner the market and extract rent from its documentation — sorry, I mean ''content'' — keeps pace with changes in market practice, regulation, and technology. They replace the [[2006 ISDA Definitions]] | The [[2021 ISDA Interest Rate Derivatives Definitions]] were published on June 11, 2021 in wholly digital form, and are designed to ensure ISDA’s ''ability to corner the market and extract rent from its documentation'' — sorry, did I say that or was I thinking it? I mean of course ''content'' — keeps pace with changes in market practice, regulation, and technology. They replace the [[2006 ISDA Definitions]] as the standard repository of all knowledge and wisdom on cleared and non-cleared interest rate derivatives as, especially following the [[LIBOR]] farrago, the latter had become totally unwieldy with upwards of 20 supplements. The new ones are digital, preternaturally supplemented and updated — I know, right? Can’t you just see moribund risk terms ''loving'' that — and much harder for skinflints to rip off, or community-minded windbags to helpfully, but sardonically, summarise and analyse in wiki format. | ||
The 2021s introduce various methods of cash settlement — I0146m sure you’ve been holding out for a smorgasbord of those — and require the Calculation Agent now to use [[commercially reasonable]] procedures to produce a commercially reasonable result — a change, if it is a change, that we applaud, but wonder — or ''would'' wonder, if chatbots ''could'' wonder — whether, since that reasonableness has been embedded into the ISDA construct for some decades now, this is much of a change. | The 2021s introduce various methods of cash settlement — I0146m sure you’ve been holding out for a smorgasbord of those — and require the Calculation Agent now to use [[commercially reasonable]] procedures to produce a commercially reasonable result — a change, if it is a change, that we applaud, but wonder — or ''would'' wonder, if chatbots ''could'' wonder — whether, since that reasonableness has been embedded into the ISDA construct for some decades now, this is much of a change. | ||