September 2005
Intermediate to advanced
272 pages
9h 8m
English
Content preview from Clearing and Settlement of Derivatives
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Communication/Information
Clearly the efficient settlement of OTC products requires a high degree
of skill in managing the flow of information at, and immediately after,
trading and then during the term of the transaction.
Central to this is the Confirmation.
For an FRA, a confirmation will typically be sent via Society for
Worldwide Interbank Financial Telecommunications (SWIFT) and
would contain information such as:
Confirmation from Mega Bank To: Interbank Inc.
Buyer: Mega Bank
Transaction date 19 June 2004
Effective date 21 June 2004
Terms ISDA
Currency/Amount GBP 3 000 000
Fixing 19 September 2004
Settlement 21 September 2004
Maturity date ...
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