Template:M summ Pledge GMSLA 5.2: Difference between revisions

← Older edit

Template:M summ Pledge GMSLA 5.2 (view source)

Revision as of 17:28, 8 January 2022

737 bytes removed , 8 January 2022

no edit summary

Amwelladmin

Bureaucrats, Interface administrators, Administrators

82,891

edits

@@ Line 1: / Line 1: @@
-[[5.2 - GMSLA Provision|If]] you have the first clue what this ''outrageous'' drafting is trying to achieve, then you deserve some kind of higher degree in syntactical parsing and we rather think you are a liar.
+[[5.2 - Pledge GMSLA Provision|There]] are some securities lending settlement systems like Equilend, Pirum, Clearstream and Triana, which handle the busy job of matching and settling the tens of thousands of stock loan transactions that take place every day, saving the poor beleaguered operations staff on each side<ref>Who are we kidding? ''long since made redundant'' operations staff, more like.</ref> having to match and post collateral back and forth for new and outstanding loans.
-We have done our best to interpret in the nutshell clause. Our best guess is this didn’t really need to be said at all; this is some kind of mangled summation of the bleeding obvious; a tortured “goes without saying” clause that some poor sod in {{islacds}} talked herself, against the stout objections of her brothers and sisters in arms, into trying to articulate, and by the time she realised her quest was futile it was too late and she was committed. Sunk cost fallacy.
-So: there are some securities lending settlement systems like Equilend, Pirum, Clearstream and Triana, which handle the busy job of matching and settling the tens of thousands of stock loan transactions that take place every day, saving the poor beleaguered operations staff on each side<ref>Who are we kidding? ''long since made redundant'' operations staff, more like.</ref> having to match and post collateral back and forth for new and outstanding loans.
 Each party will set itself up with an account and a “long box” containing collateral it makes available to collateralise its loans, and the settlement system effects all the movements using the ineffable algorithmic magic of AI.
 This wording really reflects that transfers made by these systems on the parties’ behalf count as discharging their obligations under the Loans — like, why wouldn’t they? — and that is about it.
-But boy, did the ’squad get itself in a tangle trying to say this.