82,853
edits
Synthetic prime brokerage: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
{{a|PB|[[File:SES Google.png|450px|thumb|center|The internet's leading authority on [[synthetic equity swap]]s.{{tm}}]]}}{{a|glossary|}}''Also called a [[synthetic equity swap]], a [[contract for difference]]<ref>This has been apt to confuse people; be warned.</ref> or a [[high-delta equity derivative]].''<br> | {{a|PB|[[File:SES Google.png|450px|thumb|center|The internet's leading authority on [[synthetic equity swap]]s.{{tm}}]]}}{{a|glossary|}}''Also called a [[synthetic equity swap]], a [[contract for difference]]<ref>This has been apt to confuse people; be warned.</ref> or a [[high-delta equity derivative]].''<br> | ||
You may like our longer form essay — it’s a contrarian piece, be warned — ''“[[synthetic prime brokerage and the risk of tax recharacterisation]]”. | |||
[[Synthetic prime brokerage - PB Provision|Synthetic prime brokerage]] is ''physical'' [[prime brokerage]], only done with [[derivatives]]. | [[Synthetic prime brokerage - PB Provision|Synthetic prime brokerage]] is ''physical'' [[prime brokerage]], only done with [[derivatives]]. | ||
| Line 14: | Line 16: | ||
Since the advent of Section [[871(m)]] the practical value of the [[hypothetical broker-dealer]] language — to buttress the argument that this really is a [[high-delta equity derivative]], and not a disguised cash trade, has diminished, but not vanished entirely, so I am afraid you will need to persevere with it. <br> | Since the advent of Section [[871(m)]] the practical value of the [[hypothetical broker-dealer]] language — to buttress the argument that this really is a [[high-delta equity derivative]], and not a disguised cash trade, has diminished, but not vanished entirely, so I am afraid you will need to persevere with it. <br> | ||
'''The long version''': But here, in a service to the market, is a longer form essay from the [[JC]] on''“[[synthetic prime brokerage and the risk of tax recharacterisation]]” | '''The long version''': But here, in a service to the market, is a longer form essay from the [[JC]] on ''“[[synthetic prime brokerage and the risk of tax recharacterisation]]” | ||
{{LOSD under synthetic pb}} | {{LOSD under synthetic pb}} | ||