Template:M comp disc 1992 ISDA Specified Transaction
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A Specified Transaction under the 1992 ISDA is, by the standards of ISDA’s crack drafting squad™, monosyllabic to the point of being terse. But that is as nothing compared to the 1987 ISDA, which wasn’t even called a Specified Transaction, but was just a Specified Swap.
Under the 2002 ISDA, it is expressed with far more of the squad’s signature sense of derring-do and the Byzantine, expanding the basic definition:
- Specifically to include things we have thunk of since 1992, such as futures, credit derivatives, repo, stock lending, weather derivatives,[1] NDFs, transactions executed under terms of business; and
- Generally to include similar transactions that are presently or in future become common in the financial markets — a neat a catch-all, designed to include any future pieces of financial wizardry (and/or mass destruction) that have not been thunk of just yet.