82,903
edits
Template:M gen Equity Derivatives Calculation Agent, Determining Party and Hedging Party: Difference between revisions
Template:M gen Equity Derivatives Calculation Agent, Determining Party and Hedging Party (view source)
Revision as of 15:01, 9 May 2022
, 9 May 2022no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
===Why “Agent” here, and “Party” there?=== | ===[[Agents and Parties - Equity Derivatives Provision|Why]] “Agent” here, and “Party” there?=== | ||
'''{{eqderivprov|Calculation Agent}}'''; There is a sense that an “agent” is one who acts on the behalf of others — both counterparties, in the case of a derivative contract — and should not consider its own interests. The {{eqderivprov|Calculation Agent}} in any swap will generally be one of the counterparties — most usually the [[swap dealer]] — and in equity derivatives definitely so. The “agent” tag is meant to remind us that when acting as Calculation Agent one acts by reference to the distilled abstract qualities of the market, meditating on the golden mean, as it were, and not by reference to one’s own sordid axes and grubby financial interests. | '''{{eqderivprov|Calculation Agent}}'''; There is a sense that an “agent” is one who acts on the behalf of others — both counterparties, in the case of a derivative contract — and should not consider its own interests. The {{eqderivprov|Calculation Agent}} in any swap will generally be one of the counterparties — most usually the [[swap dealer]] — and in equity derivatives definitely so. The “agent” tag is meant to remind us that when acting as Calculation Agent one acts by reference to the distilled abstract qualities of the market, meditating on the golden mean, as it were, and not by reference to one’s own sordid axes and grubby financial interests. | ||