About that ISDA Pt 4(b): The qualities of a good ISDA

Second part of an essay on the essential features of a solid master trading agreement: consistency, simplicity, and if yours aren’t, what you can do to fix it.

In the first part, we canvassed fairness, confidence and clarity. We round up by looking at consistency, simplicity and — in the highly unlikely scenario that your ISDAs aren’t models of elegance — what you can do to change that, and we challenge you to bell the cat under whose yoke your labour.

A rabble-rousing mixed metaphor, yesterday.

Last time

Last ti…