internaashanal swaps aandu derivatives association

internaashanal swaps aandu derivatives association (aii. ezz. dii. eiii) vipaniyil pankedukkunnavarude oru vyapara samghadanayaanu.
newyork nagarathilaanu ithinte aasthaanam, derivative edapaadukalil earppedunnathinaayi oru staanderd karar (isda maasttar karar) srishtichu. niyamaparavum nayaparavumaaya pravarthanangalkku purame, odisi derivative vyavasayathinulla exml sandesha nilavaramaaya efpml (financial prodakts markup langwej) isda kaikaaryam cheiyunnu. 75 rajyangalilaayi 925-ladhikam amgangalulla isdayil derivative dealermar, sevana daathaakkal, anthima upayokthaakkal ennivar amgangalaanu.
charithram.
1985ll internaashanal swaapp dealermaarude associationaayi roopeekaricha isda pinneedu athinte peru "swaapp dealermar" ennu maattukayum "swaappukalum derivetteevukalum" ennu maattukayum cheythu. kooduthal vishalamaaya derivative vipanikal mechappeduthunnathinum palisha nirakk kaimatta karaarukalil ninnu karsanamaayi akannupokunnathinumulla avarude sramangalil kooduthal shradha kendreekarikkunnathinnu eee maattam varuthiyathu.
2009-ll newyork timesinte oru lekhanathil, 2005-ll aii. ezz. dii. eiii. sii. dii. oo. paymentukalil (ningal pookumbool panamadaykkuka) niyama mattangal anuvadichu, athu goldman satches, dushe baank thudangiya (hrasvamaaya) mortgage pinthunayulla securitykalkkethire vaathuvepp nadathunnavarkku gunam cheiyumennu paraamarshichu.
newyork, lunden, hongong, tokkiyo, washington dii ennividangalil isdaykk offeesukalundu.sii.brassels singapur. aarr bhookhandangalil ninnulla 800-ladhikam amgasthaapanangal ivideyundu. 2009ll isdayil chernna scott omaliyayaanu ippozhathe cheef executive officer.
isda maasttar karar.
oru derivative vyaapaarathe chuttipattiyulla charchakal aarambhikkumbol oru derivative dealer athinte counderparty thammilulla isda maasttar karar saadhaaranayaayi upayogikkunnu. maasttar kararinu rund adisthaana roopangalunda eaka adhikaraparidhi/currency, onniladhikam adhikaraparidhi/currency. eee rekhakalilonnu saadhaaranayaayi kakshikal thammilulla adisthaana vyapara nibandhanakal nischayikkunnathinaayi oru shedyoolumaayi samyojippichirikkunnu; thudarnnulla oro vyapaaravum maasttar kararineyum shedyoolineyum paraamarsikkunna oru sthireekaranathil rekhappeduthunnu. shedyoolinte nibandhanakal palappozhum charcha cheyyappedukayum pala sthaapanangalkkum shedyoolinte munganana pathippukal undaayirikkukayum cheiyunnu.
financial times" reporter staasi-maari ismaayil parayunnathanusarichu, maasttar karar "derivative maarkkattin adisthaanaparavum oru maathruka nalkunnathumaanu."
islaamik niyamaprakaaram derivative edapaadukal staanderd cheiyukayenna lakshyathode anthaaraashtra islaamik financial maarkkattumaayi sahakarichu isda oru tahavut maasttar karaarinte karadum thayyaaraakkiyittund.
pathippukal.
1992-ll isda maasttar karar aadyamaayi prasidheekarikkukayum 2002-ll randaam pathipp prasidheekarikkukayum cheythu. 1990-kalude avasaanathil vipani budhimuttukalkku marupadiyaayi randaam pathipp thayyarakkukayum onnukil ekeekritha roopathilo aadya pathippinte staanderd phoom bhedagathikalaayo sweekarikkukayum cheythu. randaam pathippile pradhana mattangal ivayaanu
2009 epril 8 nuu isda bigg baang protocol ennariyappedunna kooduthal nirbandhitha parishkkaranangal avatharippichu."eee protocol avatharippicha pradhana mattangal ivayaanu
vyakthigatha sii. dii. edapaadukalile charchakalude vyaapthi parimithappeduthunnathina protocol kooduthal staanderd nibandhanakalum avatharippichu, angane vyakthigatha karaarukal vyaapaarathil kooduthal fungazible akkunnu.
2009 octoberil anthaaraashtra group oof odisi derivative supervisormark vendi yuke financial sarveesas authority kammeeshan cheytha isdayude report, nilavile vipani sanbradaayathekkurichu nannayi manassilakkaan sahaayikkunnathin odisi derivetteevukalkkaayulla ubhaykakshi collateralisation reethikalekkurichu vishalamaaya vipani avalokanam nadatthaan isdayodu aavasyappettu, prathyekichum ithu vipaniyil sajeevamaaya vividha tharam kaundarpaarttikalumaayi bandhappettirikkunnu."
nettu.
orupakshe isda maasttar karaarinte ettavum pradhanappetta vasham maasttar karar athinu keezhil earppettirikkunna ellah sthireekaranangalum orotta karaaraan. ithu valare pradhaanamaan (prathyekichu niyantritha dhanakaarya kambanikalkku) kaaranam ithu oru isda maasttar karaarile kakshikale aaa isda maasttar kararinu keezhilulla ellah edapaadukalkkum keezhil oororutharum adaykkenda thukakal samaharikkaanum pakaram oru kakshi mattoraalkk nalkenda orotta motham thuka nalkaanum anuvadikkunnu. isda maasttar karaarile sekshan 2 (sii) prakaram kaikaaryam cheiyunna netting, ore divasam adaykkenda thukayum athe currencyil adaykkaan kakshikale anuvadikkunnu.
isda maasttar karaarile sekshan 6 (iii) prakaram closs-outtu nettingaanu nettinginte ettavum pradhanappetta upayogam. eee vibhaagathin anusrithamaayi, oru isda maasttar karar (allengil, kooduthal krithyamaayi, athinte keezhilulla kudissikayulla edapaadukal) avasaanippikkumbol (saadhaaranayaayi eathenkilum tharatthilulla credit evantinethudarnnu), avasaanippicha oro edapaadukaludeyum moolyam vilayiruthappedunnu (ithu cheyyaan niravadhi vazhikalundu, ennaal oru kakshikk oru swatantra moonnaam kakshiyumaayulla avasaanippicha edapaadinu samanamaaya vaanijya nibandhanakalulla oru edapaadil praveshikkaan ethra chelavaakumenn nirnnayikkuka ennathaanu ettavum saadhaaranamaaya nadapadi-ithine settilment thuka ennu vilikkunnu) koodaathe avasaanippikkal karansiyaayi parivartthanam cheyyukayum (ithu isda maasttar karaarinte shedyulil vyakthamaakkendathaayirunnu) adaykkaatha eathenkilum thuka kanakkiledukkukayum cheiyunnu. avasaanippicha oru prathyeka idapaadumaayi bandhappett eathu kakshi 'inn-dhii-munny' aanennathine aashrayich settilment thukayum (positteev allengil negatteevu aakam) adaykkaatha thukayum (veendum positteev allengil negatteevu, aaraan kadappettirikkunnath ennathine aashrayich) kootticherkkukayum avasaanippicha currencyile orotta kanakk oru kakshi allengil matte kakshi adaykkendathaanennu nirnnayikkukayum cheiyunnu. derivative vipaniyil sajeevamaaya dhanakaarya sthaapanangalkku closs-outtu netting vyavasthakalude nadappaakkal thikachum pradhaanamaan, kaaranam nettu cheyyaanulla kazhivu motha thukayekkaal oru isda maasttar karaarinte closs-aouttil avar adaykkenda motham kanakkinethire maathram mooladhanam anuvadikkunnu. aaa adhikaaraparidhiyile closs-outtu netting vyavasthakalude falaprapti sthireekarikkunna ellah pradhana adhikaaraparidhiyilum ninnu aii. ezz. dii. eiii niyamaparamaaya abhipraayangal nediyittundu. isdayile amgangalkku eee abhipraayangale aashrayikkaan avakaashamund.
closs-outtu netting nilavil phalapradamaayi pravartthikkaattha adhikaaraparidhikalkk sweekarikkaan kazhiyunna oru model "netting aakt" isda nirmmikkunnu.
credit support annex (sii. ezz. eiii).
oru credit support annex nirmmikkukayum athu oru aii. ezz. dii. eiii maasttar karaarile kakshikale avarude credit risk kuraykkunnathinu anuvadikkukayum 'panamillaatha' kakshiye eedaayi (saadhaaranayaayi panam, sarkkar securitykal allengil uyarnna rating bondukal) aaa kakshi adaykkenda thukayumayi bandhapetta ellah edapaadukalum bandhapetta aii. ezz. dii. eiii maasttar karar avasaanippichathin keezhilaayirunnu. panam ozhikeyulla mattu eedukal saadhaaranayaayi risk nirakkil kizhivu nalkunnu, athaayath, prathinjja cheiyunnayaal settilment thukayekkaal kooduthal eedukal nalkendivarum.
isdafix.
1998 muthal 2014 august vare, naalu karansikalkku (euro, britiish poundu, swis frank, yuu.ezz. dollar) isdafix enna peril. nirakk krithrimathva kumbhakonangalethudarnnu, eee nirakkukal ippol anthar bhookhanda vinimayamaanu (aise) niyanthrikkunnath. koodaathe, swis frank nirakk inii report cheyyappedunnilla.
credit evantukalum nirnaya kammittikalum.
lokathinte oru prathyeka pradeshathu (jappan, austreliya/nyoosiland, emiya, jappan enniva ozhikeyulla america, eshya) adhikaaraparidhiyilulla anchu nirnaya kammittikalaanu isdaykkullathu. oro kammittiyilum patthu votting dealermar anchu votting noonn-dealer asattu maanejarmaarum ulppedunnu. credit default swaapp kararinu keezhilulla baadhyathakalkk kaaranamakunna "credit evantukal", "pinthudarchaavakaasha sambhavangal" (layanangal polullava) ennivayude nilanilppinekkurichu kammittikal audyogikavum nirbandhithavumaaya theerumaanangal edukkunnu.
2009 juulai muthal, oru credit ivant pariharikkunnathinulla praadhamika maarggam lela othutheerppaanu, avide baadhakamaaya upakaranangalude udamakal (prasakthamaaya nirnaya samiti theerumaanichathupole) avarude upakaranangal oru nischitha vilaykk saadhyathayulla vaangunnavarkk lelam cheiyunnu.
grease, athinte ellah swakaarya kadakkarkkum nashtam varuthunna niyamanirmmanam paasaakkunnathiloode, sthirasthithi insurance karaarukalude paymentine prerippichuvennum angane oru credit evantine prerippichuvennum 2012 maarchil isda oru prasthavana purappeduvichu. hellenic republic purappeduvicha greak niyamavazhchayulla bondukalude nibandhanakal bhedagathi cheiyunnathinu [athupole] badhita bondukalude ellah udamakalkkum paymentukal sweekarikkaanulla avakasham kurachathaayi isda paranju."
nirvachanangal.
derivetteevukalkkaayi vyavasaya maanadandangalum isda srishtikkukayum karaarukalil upayogikkunna padangalude niyamaparamaaya nirvachanangal nalkukayum cheiyunnu. credit sthirasthithi kaimattangal, motham ritten kaimattangal, credit linked nottukal, mattu credit derivative edapaadukal ennivaykku adisthaana nirvachanangal nalkunna 1999 leeii aii. ezz. dii. eiii credit derivative nirvachanangal oru udaaharanamaanu.
2000 august maasathil oru insurance kambani 2.8 bilyan dollar kadam punasamghadippichathumaayi bandhappett oru "punasamghadana paripadi" enna nirvachanathecholli oru vivaadam udaleduthu. ithu credit default swaappukalil samrakshana vilppanakkaaril ninnu parathikalkk kaaranamaayi, credit bisinessil saadhaaranamaayi kaanapedunna oru sambhavathin avarkk nashtapariharam nalkendivannu. punasamghadanaykku sammathikkunnathiloode samrakshana vaangunnavarkk nashtappedaan onnumillathathinaal "thaalpparya vairudhyam" undaakumenna bhayavumundaayirunnu. (samrakshana vaangunnavaril insurance kambaniyude chila vaaypakkaar ulppedunnu.)

