Template:Isda Close-out Amount comp: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{icds}} introduced the {{isdaprov|Close-out Amount}} into the {{2002ma}} to correct the total trainwreck of a close-out methodology set out in the {{1992ma}}.") |
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{{icds}} introduced the {{isdaprov|Close-out Amount}} into the {{2002ma}} to correct the total trainwreck of a close-out methodology set out in the {{1992ma}}. | {{icds}} introduced the {{isdaprov|Close-out Amount}} into the {{2002ma}} to correct the total trainwreck of a close-out methodology set out in the {{1992ma}}. | ||
So the dirty secret is that there ''isn’t'' a “Close-out Amount” as such under a {{1992ma}} (or the {{1987ma}}) but, in places on this wiki, we’ll refer to one anyway, because it is better, more elegant, more stylish prose than | |||
{{quote|“... the amount determined following early termination of a {{isda92prov|Terminated Transaction}} using {{isda92prov|Market Quotation}} or {{isda92prov|Loss}} ([[as the case may be]]) and the {{isda92prov|Second Method}}, seeing as no-one in their right mind would agree to the {{isda92prov|First Method}}, under the {{1992ma}}”.}} | |||
In the context of a {{1992ma}} that is what we mean by “Close-out Amount”. | |||
Latest revision as of 15:49, 3 February 2024
ISDA’s crack drafting squad™ introduced the Close-out Amount into the 2002 ISDA to correct the total trainwreck of a close-out methodology set out in the 1992 ISDA.
So the dirty secret is that there isn’t a “Close-out Amount” as such under a 1992 ISDA (or the 1987 ISDA) but, in places on this wiki, we’ll refer to one anyway, because it is better, more elegant, more stylish prose than
“... the amount determined following early termination of a Terminated Transaction using Market Quotation or Loss (as the case may be) and the Second Method, seeing as no-one in their right mind would agree to the First Method, under the 1992 ISDA”.
In the context of a 1992 ISDA that is what we mean by “Close-out Amount”.