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There are three versions still conceivably in use: | There are three versions still conceivably in use: | ||
====={{2002ma}}===== | |||
The still, after all these years, state-of-the-art {{2002ma}}. This is the most popular version — it took industry participants an ''awfully'' long time to get comfortable with it, despite its innovations being largely sensible, but now most of the European and Asian markets trade on the {{2002ma}}, and we sense even the Americans are coming to reluctant terms with it. | The still, after all these years, state-of-the-art {{2002ma}}. This is the most popular version — it took industry participants an ''awfully'' long time to get comfortable with it, despite its innovations being largely sensible, but now most of the European and Asian markets trade on the {{2002ma}}, and we sense even the Americans are coming to reluctant terms with it. | ||
====={{1992ma}}===== | |||
The {{1992ma}} was the first really global, pan-transactional, earth-shaking version of the ISDA master agreement. It is still popular with traditionalists, those who can’t abide a one-day grace period for {{{{{1}}}|Failure to Pay or Deliver}}, and Americans. | The {{1992ma}} was the first really global, pan-transactional, earth-shaking version of the ISDA master agreement. It is still popular with traditionalists, those who can’t abide a one-day grace period for {{{{{1}}}|Failure to Pay or Deliver}}, and Americans. | ||
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Perhaps had the {{2002ma}} been ''more'' radical it might have stood a greater chance of adoption. On the other hand, the further the fruit falls from the tree, the greater chance of outright failure. Just ask “[[Flight 19]]”, the poor, doomed Linklaters team who drafted the [[2011 ISDA Equity Derivatives Definitions|2011 Equity Derivatives Definitions]]. | Perhaps had the {{2002ma}} been ''more'' radical it might have stood a greater chance of adoption. On the other hand, the further the fruit falls from the tree, the greater chance of outright failure. Just ask “[[Flight 19]]”, the poor, doomed Linklaters team who drafted the [[2011 ISDA Equity Derivatives Definitions|2011 Equity Derivatives Definitions]]. | ||
====={{1987ma}}===== | |||
The [[1987 ISDA Interest Rate and Currency Exchange Agreement]] — it wasn’t, by name, a comprehensive master agreement — is all but a dead letter now. But, we sense, not ''quite''. | The [[1987 ISDA Interest Rate and Currency Exchange Agreement]] — it wasn’t, by name, a comprehensive master agreement — is all but a dead letter now. But, we sense, not ''quite''. | ||