Derivatives · glossary
The short record of one trade's terms. It is evidence of the bargain, not the bargain, because the trades bound on the recorded call. A party has two Local Business Days to object to an error, so check it against the loan on arrival. Clause 9.9 · Chapter 6
Explained in Chapter 6, Trade Date: the Confirmations, Line by Line, of Derivatives.
A trade is agreed in a few minutes on a recorded phone call: a rate, a notional, done. Nobody can negotiate a full contract that fast, so the market splits the paper in two. Each trade's own rates, amounts and dates go in a short Confirmation. Everything that should hold for every trade goes once into a master agreement, signed before the first trade.Read Chapter 1, What a Derivative Is →
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This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open Derivatives → · All terms A–Z →