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Template:Csa exposure: Difference between revisions
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===Differences between versions=== | ===Differences between versions=== | ||
The difference between the two versions of {{ukcsa}} (see link in box for comparison) is that the {{csa}} assumes you are trading under a {{1992ma}}, using the {{isdaprov|Market Quotation}} valuation technique — which kind of figures, since the {{2002ma}} with its {{isdaprov|Close-out Amount}} methodology hadn’t then been invented — whereas the {{vmcsa}} version contemplates you having a ''either'' a {{1992ma}} ''or'' a {{2002ma}} and provides for them in the alternative. | The difference between the two versions of {{ukcsa}} (see link in box for comparison) is that the {{csa}} assumes you are trading under a {{1992ma}}, using the {{isdaprov|Market Quotation}} valuation technique — which kind of figures, since the {{2002ma}} with its {{isdaprov|Close-out Amount}} methodology hadn’t then been invented — whereas the {{vmcsa}} version contemplates you having a ''either'' a {{1992ma}} ''or'' a {{2002ma}} and provides for them in the alternative. | ||
The {{nyvmcsa}} tracks the {{vmcsa}} closely with two curious exceptions: Firstly, when imagining its [[hypothetical]] termination of all {{isdaprov|Transaction}}s it doesn’t explicitly carve out the {{isdaprov|Transaction}} constituted by the {{nyvmcsa}} itself — which is odd, because if you were treating it as a {{isdaprov|Transaction}} to be hypothetically included, you necessarily get a value of zero, since its value should be the exact negative of whatever the net mark-to-market value of all the other {{isdaprov|Transaction}}s are — and secondly it does not [[Hypothetical|hypothetically]] suppose that the {{nyvmcsaprov|Secured Party}} is the {{isdaprov|Unaffected Party}}, thereby getting to be in the driver’s seat when constructing the necessary valuations. | |||
The reason for you don’t have to except a {{nyvmcsa}} from hypothetical termination is buried deep in its earthen [[Ontology|ontological]] root system. Are you ready? | |||
{{csa transaction versus credit support document}} | {{csa transaction versus credit support document}} | ||