Transactions vs Contracts

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      Line 282 (Table 2-2): Added "Note: a Tender for one side MAY match more than one Tender on the other side, which would generate multiple Transactions."

      Line 318 was actually backward.
      Was: When a Transaction is created, a contract is created between the buyer and the seller.
      The section: "Party and Counterparty in Tenders and Transactions" has been re-written and addresses and no longer redefines the material on table 2-2.

      Line 379: this bullet list is not place for substantive discussion. See fix in 282

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      Line 282 (Table 2-2): Added "Note: a Tender for one side MAY match more than one Tender on the other side, which would generate multiple Transactions." Line 318 was actually backward. Was: When a Transaction is created, a contract is created between the buyer and the seller. The section: "Party and Counterparty in Tenders and Transactions" has been re-written and addresses and no longer redefines the material on table 2-2. Line 379: this bullet list is not place for substantive discussion. See fix in 282

      Transactions vs Contract

      The standard implies a one-to-one relationship between transaction and contract. In practice, I believe it is more appropriate to have a one-to-many relationship between transactions and contracts. Each party of a transaction will receive its own distinct contract (the counterparty may not be public to each other). Also, for the market to match an integral tender, t may have to match with multiple counterparties tenders to create a transaction.

      [Lines 282, 318, 379]

            Assignee:
            Toby Considine (Inactive)
            Reporter:
            Toby Considine (Inactive)
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