Specified Transaction - ISDA Provision: Difference between revisions

{{isdaprov|Specified Transaction}}s are those financial markets transactions between you and your counterparty ''other than those under the present {{isdama}} default under which justifies the wronged party closing out the present {{isda}}. “Specified Transactions” therefore specifically ''exclude'' {{isdaprov|Transactions}} under the ISDA itself for the sensible reason that a default under those is covered by by {{isdaprov|Failure to Pay or Deliver}} and {{isdaprov|Breach of Obligation}}. It might lead to a perverse result if misadventure under an {{isdama}} {{isdaprov|Transaction}} which did not otherwise amount to an {{isdaprov|Event of Default}}, became one purely as a result of the {{isdaprov|DUST}} provision, however unlikely that may be.

Under the {{2002ma}} it is expressed with far more of ISDA's signature sense of the Byzantine, expanding the basic definition to specifically include [[futures]] [[credit derivatives]], [[repo]], [[stock lending]], [[weather derivative]]<ref>Oh, look! Anyone remember {{tag|Enron}}? Anyone feeling nostalgic for the good old days when men were men, fraud was fraud, financial accountants were profit centres and anything seemed possible?</ref>s, [[NDF]]s, transactions executed under terms of business and other commodities or similar transactions that is presently or in future becomes common in the financial markets.