Template:Nutshell Equity Derivatives 6.3

6.3. General Terms Relating to Market Disruption Events
6.3(a) “Market Disruption Event” means

(i) a material Trading Disruption or Exchange Disruption to a Share or Index during the hour before the Valuation Time (etc), or

(ii) an Early Closure.

To work out whether there is a Market Disruption Event on an Index due to a Market Disruption Event on one of its component securities, the Calculation Agent will determine the percentage that security contributes to the Index by comparing

(x) how much of the Index level is attributable to that security with

(y) the Index level just before the Market Disruption Event happened.

6.3(b) “Trading Disruption” means any suspension or limitation on trading imposed by an Exchange or Related Exchange for any reason

(i) relating to the Share on the Exchange (or on Exchanges for securities comprising at least 20 percent of the Index level, for any Index Transactions and Index Basket Transactions), or

(ii) in futures or options contracts on the Share or Index on any Related Exchange.

6.3(c) Exchange Disruption means any event (other than an Early Closure) that the Calculation Agent determines impedes market participants trading or valuing:

(i) Shares on an Exchange (or, for Index Transactions and Index Basket Transactions, on Exchanges whose securites comprise at least 20 percent of the Index level), or

(ii) futures or options contracts on the Share or the Index on any Related Exchange.