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credit derivatitive trading
- Thread starter trend2009
- Start date
Do a little research on credit derivatives (i.e. Google it ) and all your questions will be answered.
No, ISDA governs documentation, collateral, and basically the whole trading process.
And you aren't to become a 'subscriber'. You sign an ISDA agreement with EACH of your counterparties.
And you aren't to become a 'subscriber'. You sign an ISDA agreement with EACH of your counterparties.
Quote from atticus:
OTC. Typical deals are in the 10s of millions. ISDA governs the netting process and you'd need to be a ISDA "subscriber".
I'm really confused by your reply (which I assume was to me)?
You (atticus) can't sign one. Except, in the literal sense that you go download a copy from somewhere and sign it yourself - which, without a counterpart signature, means exactly nothing.
My whole point is that you need to sign an ISDA with a counterparty, which in the most obvious sense is the sell side.
An ISDA 'subscriber' (in the sense of http://www2.isda.org/about-isda/join-isda/subscriber-members/benefits/) has nothing directly to do with having the ISDA Agreements in place to CDS/CDO/etc. It's more or less a subscription to a bunch of industry publications.
You (atticus) can't sign one. Except, in the literal sense that you go download a copy from somewhere and sign it yourself - which, without a counterpart signature, means exactly nothing.
My whole point is that you need to sign an ISDA with a counterparty, which in the most obvious sense is the sell side.
An ISDA 'subscriber' (in the sense of http://www2.isda.org/about-isda/join-isda/subscriber-members/benefits/) has nothing directly to do with having the ISDA Agreements in place to CDS/CDO/etc. It's more or less a subscription to a bunch of industry publications.
Quote from atticus:
Most CDS are traded with one ISDA member as couterparty. Sure a lot of CDS are traded between buy-side entities. I can sign an ISDA but it wouldn't mean much.