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Fish or cut bait: Difference between revisions
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*'''The duration of the period is crystal clear'''. There is no sneaking around, keeping a low profile and hoping the innocent party is asleep at the switch. | *'''The duration of the period is crystal clear'''. There is no sneaking around, keeping a low profile and hoping the innocent party is asleep at the switch. | ||
*'''It encourages clear, open and early communication'''. It opens a channel of communication that is often strangely shut at a time of stress. Often a broker will want to help a distressed client to reduce its positions to avoid a close-out. ''Brokers don’t actually want to close their clients out. That is the last thing they want: a fact lost on many buy-side negotiators. | *'''It encourages clear, open and early communication'''. It opens a channel of communication that is often strangely shut at a time of stress. Often a broker will want to help a distressed client to reduce its positions to avoid a close-out. ''Brokers don’t actually want to close their clients out. That is the last thing they want: a fact lost on many buy-side negotiators. | ||
* | *'''It lets the [[broker]]’s steampunk machine to go through its motions as quickly as possible'''. “we ''know'' we have a default event, we ''know'' we can close out, we have a line of dialogue to the client, we have 25 days left to make and communicate the decision.” | ||
Easy, really. | |||
{{sa}} | {{sa}} | ||