It was created to reduce the risk that a bank in Europe could go bust before markets open in America, stranding the American side of an FX transaction and leaving the American bank with its side lost.
But one big question they will all have to answer is: which side of the transaction are they on?
Yet this "imbalance" persists because each side thinks the transaction is beneficial: The paper company makes money selling paper, and we make money printing editorial content and advertisements on it.
Goldman and its self proclaimed "Fabulous Fab" Tourre were more than willing to step up to the plate and try to find the other side of the transaction to help Mr. Paulson achieve his objective.
For large priced domain names, you can use a firm like Escrow.com to hold the funds until the name has transferred, which eliminates the risk of a shady party on the other side of the transaction.
Under existing rules, traders have to confirm that the shares are at least available for a broker or dealer to borrow (the locate rule), and they are supposed to conform to the conventional three-day window to deliver shares to the trader on the other side of the transaction.
The fund-management industry is on their side, since lower transaction costs would boost its returns.
When the potential deal was reached (or not reached), there were lawyers involved for both sides who exchanged lengthy letters outlining the points of the transaction as each side understood them.
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The legal vetting in a transaction alone can involve 10 to 15 lawyers on each side of negotiations, people who have worked on large deals say.
There are no monthly fees or transaction charges for the basic wireless connectivity and users still have the option to side load personal documents or content from other compatible sites via USB.
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