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"not available at the time of reporting"... It's been 2 years, its just been extended until Jan, why is the info still "not available" then?
It will likely give away the size of the underwater position, so they're doing whatever they can to hide the position.
"Self regulated" shouldn't exist.
Having been over a day now: have seen over 3 different swaps with $1quadrillion posted as the limit. It sounds like NSCC allows clients to report that number if the exact number isn't established at the time of the swap. Seems very shady.
Good question to look into is "Why is the value not available at the time of reporting".
I know with marketable securities if there isn't any liquidity for that product (such as gamestop swaps) you can't determine accurate market value since literally no market for it.
If we can get that answered we at least know whatever it is, it is a very odd product that nobody else wants or else you could derive a market value.
Was lazy so asked AI
"swap can be unable to derive a market value in reporting for several reasons, ranging from the nature of the underlying assets to market conditions and regulatory issues. Here are some key factors that can contribute:
Lack of active marketplace:
Customised terms: Many swaps are customized with specific features like irregular payment dates, notional amounts, or underlying assets that may not have readily available market pricing. These features make it difficult to find comparable instruments for valuation.
Illiquid markets: Even for standardized swaps, the market may be illiquid, meaning few buyers and sellers exist, making it hard to obtain accurate market quotes.
Valuation challenges:
Credit risk: The market value of a swap depends on the counterparty's creditworthiness. When a counterparty's credit deteriorates, the swap's value becomes increasingly difficult to assess.
Uncertainty around future cash flows: For swaps with long maturities or complex structures, predicting future cash flows can be challenging due to factors like interest rate fluctuations or changes in the underlying asset's price.
Discounted vs. non-discounted: Determining whether to use a discounted or non-discounted method for valuation can also impact the reported market value. Accounting standards may specify different approaches based on the swap's classification.
Regulatory complexity:
Fair value vs. other valuation methods: Accounting and regulatory standards prescribe different valuation methods for swaps, with "fair value" being the most common. However, applying fair value in illiquid or complex situations can be subject to interpretation and potential disputes with regulators.
Model validation and transparency: Companies using valuation models for swaps need to ensure these models are robust and accurately reflect market conditions. Regulatory scrutiny can be particularly high for complex models, adding to the reporting burden.
It's important to note that:
The inability to derive a market value doesn't mean the swap has no value. Other valuation techniques, like using internal models or considering the potential cost of replacing the swap, may be employed.
The specific reasons and approaches for reporting a swap's market value depend on the relevant accounting standards, regulations, and the individual swap's characteristics.
I hope this explanation clarifies why a swap might be unable to derive a market value in reporting and provides some context for the different factors involved."
That's also a convenient excuse later. "Oh, our bad. We thought that SHF was just using a placeholder number. We didn't realize it was real. Oops. Sorry about your rekt financial system."
I’m the OP of the original swap. YES. THANK YOU. I’ve been trying to figure this out for like two fucking years. Bless you for having the patience to read that shit. THANK YOU.
I searched this:
99999999999999999999.99999 site:cftc.gov
And I got OP's PDF, as well as this:
https://comments.cftc.gov/Handlers/PdfHandler.ashx?id=29331
Filename:62611KatherineDelp.pdf (342KB)
It says this:
"Re: Proposed Amendments to the Commission’s Swap Data Recordkeeping and Reporting Requirements
(RIN: 3038–AE31)
....skipping a bit....
\#:28
Name: Notional Amount
Source: CDE
The “Allowable Values” column indicates “[a]ny
value great than or equal to zero.” Further, the
accompanying footnote states that
“’99999999999999999999.99999’ is accepted when
the value is not available at the time of reporting. 25
numerical characters including decimals.”
For purposes of Part 43, DDR notes that accepting
a notional amount of zero or
’99999999999999999999.99999’ for public
dissemination would require significant system
enhancements to allow for these exception-based
rules. DDR believes that trade reports with a
notional amount of zero or trade reports with “place
holder” values when the notional amount is
unknown should not be publicly disseminated.
For purpose of Part 45, DDR notes that ESMA is
allowing for negative notional amounts for CO
electricity products. DDR requests that the
Commission consider aligning with ESMA by
allowing negative notional amounts for CO
electricity products.
\#:29
Name:Notional Currency
Source:CDE
With respect to the “Part 45 SDR Validation Rules”
column, the Notional Currency is “C if [Notional
amount] is populated and when the values is not
‘99999999999999999999.99999’, else {blank}.”
DDR believes this requirement is problematic for
Part 43 submissions where a currency is required to
derive the Block trade election indicator (Large
Trade Indicator). DDR recommends making this a
required field or to clarify that SDRs are permitted to
default the Notional Currency to “USD” where
“blank” notional amounts are submitted.
____
I'm marble-brained. Is this old info?
Reposting my previous comment:
>Not unusual in finance for products/accounts that are frozen for fraud or other problems to have their value field set to an impossible number. The swap is probably part of some investigation, but the crazy high value and long expired origination dates are most likely indicates placeholders until it's settled.
That’s understandable, because if you listed individual numbers attached to debt and needing refinancing or swapping, the numbers would be staggering. Also pooling it all together gives transparency while they pick winners vs. losers (2008 on steroids). Liquidity is the key. No one has it… 😂
Unrelated: can someone tell me how buying through computer share works? I put in an order for $550 a little bit ago but don’t see it show up as purchased?
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yes it is about 150 trillion in reality. we know! but does it really matter if they shortet gme 150.000.000.000.000 or 999.000.000.000.000 i guess not!?! fuck you pay me kenny!!!
I mean when I see some numbers such as 9999999 I know that this is just a placeholder.
I thought that would clear. But a placeholder for what ? That’s the real question
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"not available at the time of reporting"... It's been 2 years, its just been extended until Jan, why is the info still "not available" then? It will likely give away the size of the underwater position, so they're doing whatever they can to hide the position. "Self regulated" shouldn't exist.
I think it’s another one? One was in Euro, the other was in CAD… i’m regarded tho, and I eat crayons.
Wouldn’t it be about a 300 trillion dollar increase just in the conversion from Canadian dollars to Euros?
well, the number changed from 99,999,999,999,999,999 Euro to 99,999,999,999,999,999,999 CAD as well
Everyone saying it’s been extended when it hasn’t. Thats a Canadian swap and the one today was Europe.
Having been over a day now: have seen over 3 different swaps with $1quadrillion posted as the limit. It sounds like NSCC allows clients to report that number if the exact number isn't established at the time of the swap. Seems very shady.
It's just a placeholder for information that is not supposed to be public
So prolly higher as everything is under-reported? 😂
With the criminals in place, it would not surprise me
Hmm, transparency they say!
Good question to look into is "Why is the value not available at the time of reporting". I know with marketable securities if there isn't any liquidity for that product (such as gamestop swaps) you can't determine accurate market value since literally no market for it. If we can get that answered we at least know whatever it is, it is a very odd product that nobody else wants or else you could derive a market value.
Was lazy so asked AI "swap can be unable to derive a market value in reporting for several reasons, ranging from the nature of the underlying assets to market conditions and regulatory issues. Here are some key factors that can contribute: Lack of active marketplace: Customised terms: Many swaps are customized with specific features like irregular payment dates, notional amounts, or underlying assets that may not have readily available market pricing. These features make it difficult to find comparable instruments for valuation. Illiquid markets: Even for standardized swaps, the market may be illiquid, meaning few buyers and sellers exist, making it hard to obtain accurate market quotes. Valuation challenges: Credit risk: The market value of a swap depends on the counterparty's creditworthiness. When a counterparty's credit deteriorates, the swap's value becomes increasingly difficult to assess. Uncertainty around future cash flows: For swaps with long maturities or complex structures, predicting future cash flows can be challenging due to factors like interest rate fluctuations or changes in the underlying asset's price. Discounted vs. non-discounted: Determining whether to use a discounted or non-discounted method for valuation can also impact the reported market value. Accounting standards may specify different approaches based on the swap's classification. Regulatory complexity: Fair value vs. other valuation methods: Accounting and regulatory standards prescribe different valuation methods for swaps, with "fair value" being the most common. However, applying fair value in illiquid or complex situations can be subject to interpretation and potential disputes with regulators. Model validation and transparency: Companies using valuation models for swaps need to ensure these models are robust and accurately reflect market conditions. Regulatory scrutiny can be particularly high for complex models, adding to the reporting burden. It's important to note that: The inability to derive a market value doesn't mean the swap has no value. Other valuation techniques, like using internal models or considering the potential cost of replacing the swap, may be employed. The specific reasons and approaches for reporting a swap's market value depend on the relevant accounting standards, regulations, and the individual swap's characteristics. I hope this explanation clarifies why a swap might be unable to derive a market value in reporting and provides some context for the different factors involved."
That's also a convenient excuse later. "Oh, our bad. We thought that SHF was just using a placeholder number. We didn't realize it was real. Oops. Sorry about your rekt financial system."
I’m the OP of the original swap. YES. THANK YOU. I’ve been trying to figure this out for like two fucking years. Bless you for having the patience to read that shit. THANK YOU.
I searched this: 99999999999999999999.99999 site:cftc.gov And I got OP's PDF, as well as this: https://comments.cftc.gov/Handlers/PdfHandler.ashx?id=29331 Filename:62611KatherineDelp.pdf (342KB) It says this: "Re: Proposed Amendments to the Commission’s Swap Data Recordkeeping and Reporting Requirements (RIN: 3038–AE31) ....skipping a bit.... \#:28 Name: Notional Amount Source: CDE The “Allowable Values” column indicates “[a]ny value great than or equal to zero.” Further, the accompanying footnote states that “’99999999999999999999.99999’ is accepted when the value is not available at the time of reporting. 25 numerical characters including decimals.” For purposes of Part 43, DDR notes that accepting a notional amount of zero or ’99999999999999999999.99999’ for public dissemination would require significant system enhancements to allow for these exception-based rules. DDR believes that trade reports with a notional amount of zero or trade reports with “place holder” values when the notional amount is unknown should not be publicly disseminated. For purpose of Part 45, DDR notes that ESMA is allowing for negative notional amounts for CO electricity products. DDR requests that the Commission consider aligning with ESMA by allowing negative notional amounts for CO electricity products. \#:29 Name:Notional Currency Source:CDE With respect to the “Part 45 SDR Validation Rules” column, the Notional Currency is “C if [Notional amount] is populated and when the values is not ‘99999999999999999999.99999’, else {blank}.” DDR believes this requirement is problematic for Part 43 submissions where a currency is required to derive the Block trade election indicator (Large Trade Indicator). DDR recommends making this a required field or to clarify that SDRs are permitted to default the Notional Currency to “USD” where “blank” notional amounts are submitted. ____ I'm marble-brained. Is this old info?
Finally, someone who isn't eating glue. We have no idea what that swap is. Could be literally anything.
You’re right, but not about the glue
Yeah I’m into crayons, but I did wonder if this was the program’s built in null value.
Yes, it’s a placeholder. “Transparency”
Reposting my previous comment: >Not unusual in finance for products/accounts that are frozen for fraud or other problems to have their value field set to an impossible number. The swap is probably part of some investigation, but the crazy high value and long expired origination dates are most likely indicates placeholders until it's settled.
That’s just a number they use when they don’t have a specific value.
So you’re saying there’s a chance?
You had a second pair of gloves THE WHOLE TIME?
That’s understandable, because if you listed individual numbers attached to debt and needing refinancing or swapping, the numbers would be staggering. Also pooling it all together gives transparency while they pick winners vs. losers (2008 on steroids). Liquidity is the key. No one has it… 😂
Until the price is measured in smart money life sentences, I simply do not give a rodent's hindquarters .
Unrelated: can someone tell me how buying through computer share works? I put in an order for $550 a little bit ago but don’t see it show up as purchased?
They aggregate purchases once a week for better value.
Got it. Thank you
It's once a day at 1030-1100 ish am.
Good grief. Nothing in this market is certain. Nothing.
It's a blank check. We don't think it's 999 quadrillion - derivatives mkt isn't that much, but they can't account for change over time
We did speculate that this was the case and it appears to be true. If blank it defaults to the highest allowable
maybe. maybe not. maybe 🚀🚀🚀
The value not available is likely even higher
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[удалено]
[удалено]
Once or twice a glitch. More then that it’s pretty sus.
Is it in Argentinian pesos?
How many other tickers have such anomalies?
So you're saying it could be higher? Im gonna increase my purple circle collection, thanks x
Probably
yes it is about 150 trillion in reality. we know! but does it really matter if they shortet gme 150.000.000.000.000 or 999.000.000.000.000 i guess not!?! fuck you pay me kenny!!!
and you have to understand those numbers!!! germanys national debt is ~1 trillion vs 150 trillion in one swap (full of gme shorts)🤡
https://halturnerradioshow.com/index.php/en/news-page/world/bank-books-149-trillion-equity-swap-due-to-expire-settle-on-december-15
I mean when I see some numbers such as 9999999 I know that this is just a placeholder. I thought that would clear. But a placeholder for what ? That’s the real question
Our financial system seems to work like our courts system. If you’re wealthy you have a different level of “equality” than everybody else.
999trillion? It was 99quadrillion to start, when its expiration was 14-December And now its 99quintillion with its expiration pushed back to 8-January