A specified entity is a precisely identified legal or operational party explicitly referenced within a contractual agreement, regulatory framework, or system architecture. Its rights, obligations, or roles are clearly delineated within the governing context.
Mechanism
The explicit identification of a specified entity eliminates ambiguity regarding the parties involved in a transaction, process, or system interaction. This designation is crucial for assigning accountability, determining legal standing, and clarifying operational boundaries.
Methodology
Clear specification of entities is foundational for robust system design and legal enforceability in complex financial ecosystems, including crypto markets. It ensures that responsibilities are accurately allocated and understood, preventing operational disputes and facilitating strict regulatory compliance.
The 2002 ISDA Agreement is a critical market protocol adopted to enhance counterparty risk mitigation through superior netting and collateral provisions.
The ISDA Schedule is a modular overlay that allows counterparties to program bespoke risk, credit, and operational terms onto the universal legal framework of the Master Agreement.
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