Template:Synthetic equity swap - FWMD

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Synthetic equity swap

“All the pleasure of ownership; none of the responsiblity!”

Docs	ISDA Master Agreement, 2002 ISDA Equity Derivatives Definitions and a master confirmation. Call the legal eagles!	8
Amendability	Bilateral, so doable, but delta-one, so not much to amend.	3
Collateral	Reg VM and flexible IM margined daily. Nothing to see here folks.	0
Transferability	Daily liquidity, so no real need.	3
Leverage	A form of synthetic margin lending so yes. But your PB will be all over you, so no.	5
Fright-o-meter	Margin lending through swaps. Sounds scary; isn’t really.	0