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Applicability - GMSLA Provision: Difference between revisions
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{{gmsla2000snap|1.1}} | {{gmsla2000snap|1.1}} | ||
====Commentary==== | ====Commentary==== | ||
Note the "theory" of the trade here, notwithstanding the term "loan": | Note the "theory" of the trade here, notwithstanding the term "loan": | ||
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This is helpful to the netting analysis, which therefore applies only between one stock loan transaction and another (and not within a single stock loan trade). The absence of a netting flag means you cannot offset positive MTMs where you are a {{gmslaprov|Lender}} versus negative [[MTM]]s where you are a {{gmslaprov|Borrower}}. | This is helpful to the netting analysis, which therefore applies only between one stock loan transaction and another (and not within a single stock loan trade). The absence of a netting flag means you cannot offset positive MTMs where you are a {{gmslaprov|Lender}} versus negative [[MTM]]s where you are a {{gmslaprov|Borrower}}. | ||
Note the effect that intraday margining has on this under Clause {{gmslaprov|5}} of the | Note the effect that intraday margining has on this under Clause {{gmslaprov|5}} of the {{gmsla}}. | ||
{{gmslaanatomy}} | {{gmslaanatomy}} | ||