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Specified Transaction - ISDA Provision: Difference between revisions
Specified Transaction - ISDA Provision (view source)
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{{isdasnap|Specified Transaction Definition}} | {{isdasnap|Specified Transaction Definition}} | ||
==Commentary== | ==Commentary== | ||
Note the 1992 version excludes actual Transactions under the ISDA itself. This is for the sensible reason that a default under an ISDA Transaction is covered by elsewhere in the ISDA (eg {{isdaprov|Failure to Pay or Deliver}} and {{isdaprov|Breach of Obligation}} concepts, and it might lead to a perverse result if a {{isdaprov|Transaction}} was not otherwise an {{isdaprov|Event of default}} under any ISDA provision but the {{isdaprov|DUST}} provision, however unlikely that may be. | |||
The {{2002ma}} expands the basic definition of {{isdaprov|Specified Transaction}} to specifically include [[futures]] [[credit derivatives]], [[repo]], [[stock lending]], weather derivatives, [[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. | The {{2002ma}} expands the basic definition of {{isdaprov|Specified Transaction}} to specifically include [[futures]] [[credit derivatives]], [[repo]], [[stock lending]], weather derivatives, [[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. | ||