Joe, I got a call from the Coral people that a corrected confirm had already been sent to them PRIOR to us getting them to sign the consent to assignment of the trade. I'm sure whoever prepared it on the confirm desk didn't know I was working on this, but I told the Coral people I still needed the assignment back signed to keep our paperwork straight. Even tho I hate to have to do the additional work, with these EOL trades, there is no "oops" trade. Once we enter into the trade with 1 entity of a counterparty, we cannot just "move" the trade. We need the consent of the assignor and assignee so there is not question later on down the line that the trade was not legally moved. If eveyone on your team is not aware of this, can you mention it at your next group meeting...thanks!
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Coral deal done in error on EOL