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Template:M intro isda Party A and Party B: Difference between revisions
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Template:M intro isda Party A and Party B (view source)
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But there is a better objection: for all our automatic protestations to the contrary, the ISDA ''is not'' a bilateral contract, and it is a financing contract. We should not let ourselves forget: beyond the comparatively rare interdealer universe, there will be a “dealer” and there will be | But there is a better objection: for all our automatic protestations to the contrary, the ISDA ''is not'' a bilateral contract, and it is a financing contract. We should not let ourselves forget: beyond the comparatively rare interdealer universe, there will be a “dealer” and there will be | ||
a “customer”. Their roles are different, and it behoves us not to forget. In recent years — ironically, just as the dealer vs customer dynamic has become more pronounced — the regulatory approach has kidded itself to the contrary. | a “customer”. Their roles are different, and it behoves us not to forget. In recent years — ironically, just as the dealer vs customer dynamic has become more pronounced — the global regulatory approach, still fighting last decade’s war, has kidded itself to the contrary. | ||