This post completes our exploration of the definition of “derivatives transactions” in Rule 18f-4, which is relevant to business development companies, closed-end funds and open-end funds other than a money market fund (“Funds”). Our object is to generate a fairly comprehensive list of what is, is not, and may be a “derivatives transaction” by using our touchstone of a “future payment obligation” in combination with the literal definition in the rule and points made in earlier posts.

Summary of Transactions

The following table summarizes our conclusions as to the scope of the definition of “derivatives transactions” and provides links to the most relevant post.

Continued at the complete blog post available at The Asset Management ADVocate.