Looks like I might need a refresher on Standard Settlement Instructions (SSI). I haven't worked with these beasts since I was doing FXNet for Citicorp. Here is a brief document:
http://www.isda.org/c_and_a/pdf/SSI-Best-Practice-Statement.pdf
ISDA is the International Swaps and Derivatives Association, and is the organization that governs the trading of credit derivatives. You'll be sure to hear more about ISDA in future installments.
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He added: "It's agreed that 34.9% is not extortionate, per se, but the combination of that with the ability to add interest to a compound rate has resulted in an amazing conclusion."
Mr Meadows told the court he had taken out the loan to convert a bathroom into a third bedroom.
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