Template:M summ 2018 CSD 2(c)

Now I wouldn’t normally get excited about a clause as quotidian is this but it, brings me uncommon joy to be the one to point out the references to “clearing systems”. Elsewhere in this Deed — for example, in the definition of Assigned Rights, we find the ’squad carelessly referring to “clearance systems”.

In a document as tediously, fastidiously, anal-retentively-drafted as this one is — the 2018 English law IM CSD really sets a benchmark, even amongst ISDA documents — this will not do.