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(Created page with "====ISDA architecture==== The legal documentation for an ISDA swap transaction comes in three main parts, but — of course — there are complications for the legal eagles to get their iatrogenic talons into. But for now, let’s start at the beginning. {{subst:isda architecture|{{{1}}}}}")
 
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====ISDA architecture====
====ISDA architecture====
The legal documentation for an ISDA swap transaction comes in three main parts, but — of course — there are complications for the [[legal eagles]] to get their [[iatrogenic]] talons into. But for now, let’s start at the beginning.
The legal documentation for an ISDA swap transaction comes in three main parts, but — of course — there are complications for the [[legal eagles]] to get their [[iatrogenic]] talons into. But for now, let’s start at the beginning.
===The {{isdama}}===
=====The {{isdama}}=====
The {{isdama}} is the basic framework which applies to anyone who touches down on planet [[ISDA]]. There are three existing versions:  
The {{isdama}} is the basic framework that applies to anyone who touches down on planet [[ISDA]]. There are three existing in-use versions:  
*the state-of-the-art '''{{2002ma}}''';<ref>There is no such thing as a '''{{2008ma}}'''. That was a joke on our part.</ref>
 
*the still-popular-with-traditionalists-and-Americans '''{{1992ma}}''', and
'''{{2002ma}}: The still, after all these years, state-of-the-art '''{{2002ma}}'''.
*the all-but-retired-but-don’t-forget-there-are-still-soldiers-in-the-Burmese-jungle '''{{1987ma}}'''<ref>Seriously: proceed with caution with one of these. {{1987ma}}s don’t have a lot of safety features a modern derivatives counterparty relies on, so only for real specialists and weirdos. Think of it like flying a spitfire rather than a 737 Max. Um, okay, bad {{t|metaphor}}.</ref>
 
*the interesting-only-for-its-place-in-the-fossil-record-and-witty-acrostic {{1985ma}}; and
'''{{1992ma}}''': The still-popular-with-traditionalists-and-Americans '''{{1992ma}}'''.
*there ''isn’t'' a '''{{2008ma}}'''. That’s a little running [[JC]] in-joke.<ref>Talking to yourself might not be the first sign of madness, but having ''in-jokes'' with yourself might be.</ref>  
All three versions have a tri-partite form: '''Pre-printed Master''', '''{{{{{1}}}|Schedule}}''' and — well, ''this'' is controversial: for is it, or is it not, part of the {{isdama}}? — '''[[Credit Support Annex]]'''.
'''{{1987ma}}''': The all-but-retired-but-don’t-forget-there-are-still-soldiers-in-the-Burmese-jungle '''{{1987ma}}'''<ref>Seriously: proceed with caution with one of these. {{1987ma}}s don’t have a lot of safety features a modern derivatives counterparty relies on, so only for real specialists and weirdos.</ref>
 
There are two non-functional versions:
 
'''{{1985ma}}''': The interesting-only-for-its-place-in-the-fossil-record-and-witty-acrostic {{1985ma}}.
 
'''{{2008ma}}''': The this-fixes-everything, on-chain, smart, artificially intelligent {{2008ma}} that was introduced during, and tragically destroyed by, the [[Global Financial Crisis]]. Oh, all right there ''isn’t'' a '''{{2008ma}}'''. That’s a little running [[JC]] in-joke.<ref>Talking to yourself might not be the first sign of madness, but having ''in-jokes'' with yourself might be.</ref>  
 
All three versions have a tri-partite form: '''Pre-printed Master''', '''{{{{{1}}}|Schedule}}''', {{{{{1}}}|Confirmation}} and — well, ''this'' is controversial: for is it, or is it not, part of the {{isdama}}? — '''[[Credit Support Annex]]'''.
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