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An enormous wodge of text which states the bleeding obvious. It is well-meaningly intended to disarm [[tax lawyer|paranoid tax lawyers]]<ref>Are there any other kinds?</ref> who worry that an [[equity derivative]] (especially a [[delta-one]] [[synthetic prime brokerage]] transaction) might look like a wheeze to do the taxman out of stamp duty or other transaction tax attaching to a cash equity trade. This acknowledgment is meant to encourage the taxman not to [[recharacterisation|recharacterise]] the derivative as a cash equity order in disguise. | An enormous wodge of text which states the bleeding obvious. It is well-meaningly intended to disarm [[tax lawyer|paranoid tax lawyers]]<ref>Are there any other kinds?</ref> who worry that an [[equity derivative]] (especially a [[delta-one]] [[synthetic prime brokerage]] transaction) might look like a wheeze to do the taxman out of stamp duty or other transaction tax attaching to a cash equity trade. This acknowledgment is meant to encourage the taxman not to [[recharacterisation|recharacterise]] the derivative as a cash equity order in disguise. | ||
It has | It has a [[Hamlet’s mum]] feel about it, but you will see it applied in the synthetic PB space. Though it would be an odd hedge about which these characteristics did not apply. | ||
In the actual {{eqderivdefs}}, “{{eqderivprov|Hedge Positions}}” is really used only for that “what me guv no i never” acknowledgement about {{eqderivprov|Hedging Activities}} in Section {{eqderivprov|13.2(a)}}. However, many users co-opt it more fully into their master confirmations. | In the actual {{eqderivdefs}}, “{{eqderivprov|Hedge Positions}}” is really used only for that “what me guv no i never” acknowledgement about {{eqderivprov|Hedging Activities}} in Section {{eqderivprov|13.2(a)}}. However, many users co-opt it more fully into their master confirmations. |