Template:M comp disc 2002 ISDA 3

There is no “No Agency” representation in the 1992 ISDA. Part of the ritual of negotiating a 92 ISDA was — in America, we imagine, is — to put one in, so when those kill-joys on ISDA’s crack drafting squad™ shunted one into the 2002 ISDA it will have really ruined a few people’s days — so much so that, in some quarters, they still use the 1992 ISDA as a standard. Americans, for example.