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The Preamble to the {{1987ma}} had an extra feature: the {{isda87prov|single agreement}} provision. By 1992, this had been moved to its own little subclause in Section {{{{{1}}}|1(c)}}, and there it has stayed ever since. | |||
As for the [[modern ISDAs]], there is little material difference between the {{1992ma}} and the {{2002ma}} here. {{icds}} | As for the [[modern ISDAs]], there is little material difference between the {{1992ma}} and the {{2002ma}} here. By 2002, {{icds}} was a more world-weary, battle-hardened unit than it was in 1992, and was more alive to the idea that one might document {{isdaprov|Transaction}}s other than via a full-blown {{isdaprov|Confirmation}}. Particularly in the [[equity derivatives]] world, because the asset class tends to be fairly vanilla, the market was starting to generate [[MCA|Master Confirmation Agreement]]s for certain markets and regions, meaning that commoditised swap transactions could be fully automated and electronically completed through online trade matching systems without any faxed bits of paper saying “Dear Ladies and Gentlemen” and similarly genteel things that are so archaic as to seem, in these snow-flecked days, mildly offensive. |