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Template:M summ Credit Derivatives 1.3: Difference between revisions
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“{{cddprov|Buyer}}” is a useful label in itself. It doesn’t really ''need'' defining. We surmise that this “{{cddprov|Buyer}}” must be the person ''buying'' credit protection. Right? And so it is. | “{{cddprov|Buyer}}” is a useful label in itself. It doesn’t really ''need'' defining. We surmise that this “{{cddprov|Buyer}}” must be the person ''buying'' credit protection. Right? And so it is. | ||
Now it is also true that the Buyer also happens to be the {{cddprov|Fixed Rate Payer}}, in that it pays a pre-agreed, fixed premium — sorry, sorry, “{{cddprov|Fixed Amount}}” — for the credit protection it buys — but that takes us one step further removed from what is going on. We will need to travel as far as Section 12.6 of the | Now it is also true that the {{cddprov|Buyer}} also happens to be the {{cddprov|Fixed Rate Payer}}, in that it pays a pre-agreed, fixed premium — sorry, sorry, “{{cddprov|Fixed Amount}}” — for the credit protection it buys — but that takes us one step further removed from what is going on. We will need to travel as far as Section {{cddprov|12.6}} of the {{cddefs}} to find out what the “{{cddprov|Fixed Rate Payer}}” even means. Don’t hold your breath: it is simply the party specified as such in the {{cddprov|Confirmation}}. | ||