WSPP Dodd-Frank Presentation
WSPP Dodd-Frank Presentation
WSPP Dodd-Frank Presentation
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<strong>WSPP</strong> Agreement Transaction As<br />
Forward Contract<br />
• The <strong>WSPP</strong> Agreement provides two definitions<br />
of “Bookout” as follows:<br />
– a transaction where prior to the time performance is<br />
to commence under a Confirmation, the Parties enter<br />
into a second (substitute) transaction for the purpose<br />
of fulfilling their respective obligations under that<br />
Confirmation by offset rather than physical delivery<br />
– a transaction where after non-performance under a<br />
Confirmation, the Parties enter into a second<br />
(substitute) transaction for the purpose of finally<br />
settling losses incurred by the Performing Party due<br />
to non-performance of such Confirmation.<br />
© Wright & Talisman, P.C. All rights reserved. www.wrightlaw.com 12
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