The neglected piece of the ISDA puzzle – the Confirmation
In parts one and two of this series (The Treasurer October and December 2004) we looked critically at International Swaps and Derivatives Association (ISDA) documentation and the Schedule. We now turn our attention to perhaps the most neglected piece of the ISDA puzzle, the Confirmation. In the high-volume, automated, skills-intensive world of the inter-bank market, perhaps such neglect is understandable. In the end-user arena, however, the Confirmation is deserving of respect and scrutiny. This article explores some of the complexities.
