Template:Nutshell Equity Derivatives 9.4: Difference between revisions

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Section {{eqderivprov|9.4}}. '''{{eqderivprov|Settlement Date}}'''. “{{eqderivprov|Settlement Date}}” means:
{{eqderivprov|9.4}}. “'''{{eqderivprov|Settlement Date}}'''” means:
:(a) for {{eqderivprov|Option Transaction}}s, the first {{eqderivprov|Clearance System Business Day}} occurring one {{eqderivprov|Settlement Cycle}} after the {{eqderivprov|Exercise Date}}; and  
:(a) for {{eqderivprov|Option Transaction}}s, the first {{eqderivprov|Clearance System Business Day}} one {{eqderivprov|Settlement Cycle}} after the {{eqderivprov|Exercise Date}}; and  
:(b) for {{eqderivprov|Forward Transaction}}s  and {{eqderivprov|Equity Swap Transaction}}s, the date specified as such (or failing that one {{eqderivprov|Settlement Cycle}} after the {{eqderivprov|Valuation Date}} (adjusted for {{eqderivprov|Clearance System Business Day}}s).  
:(b) for {{eqderivprov|Forward Transaction}}s  and {{eqderivprov|Equity Swap Transaction}}s, the specified date (or, failing that, one {{eqderivprov|Settlement Cycle}} after the {{eqderivprov|Valuation Date}} (adjusted for {{eqderivprov|Clearance System Business Day}}s).  
:HOWEVER  the {{eqderivprov|Settlement Date}} will be delayed if there is {{eqderivprov|Settlement Disruption Event}} until it has lifted. If it doesn’t lift for 8 successive {{eqderivprov|Clearance System Business Day}}s then, if the {{eqderivprov|Shares}} can be delivered some other way, the {{eqderivprov|Settlement Date}} will be a settlement cycle after that eighth {{eqderivprov|Clearance System Business Day}}. Otherwise it will just be postponed until delivery can be effected.  
:HOWEVER  the {{eqderivprov|Settlement Date}} will be delayed until any {{eqderivprov|Settlement Disruption Event}} has lifted. If it doesn’t lift for 8 straight {{eqderivprov|Clearance System Business Day}}s then, if the {{eqderivprov|Shares}} can be delivered some other way, the {{eqderivprov|Settlement Date}} will be a settlement cycle after that eighth {{eqderivprov|Clearance System Business Day}}. Otherwise, it will just be postponed until delivery can be effected.  
:If only some {{eqderivprov|Shares}} in a basket are disrupted, the unaffected portion will be settled without any such delay. <br>
:If only some {{eqderivprov|Shares}} in a {{eqderivprov|Basket}} are disrupted, the unaffected portion must be settled on schedule. <br>

Latest revision as of 16:03, 6 September 2018

9.4. “Settlement Date” means:

(a) for Option Transactions, the first Clearance System Business Day one Settlement Cycle after the Exercise Date; and
(b) for Forward Transactions and Equity Swap Transactions, the specified date (or, failing that, one Settlement Cycle after the Valuation Date (adjusted for Clearance System Business Days).
HOWEVER the Settlement Date will be delayed until any Settlement Disruption Event has lifted. If it doesn’t lift for 8 straight Clearance System Business Days then, if the Shares can be delivered some other way, the Settlement Date will be a settlement cycle after that eighth Clearance System Business Day. Otherwise, it will just be postponed until delivery can be effected.
If only some Shares in a Basket are disrupted, the unaffected portion must be settled on schedule.
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