Template:Nutshell Equity Derivatives 3.1(f): Difference between revisions

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:{{eqderivprov|3.1(f)}} “'''{{eqderivprov|Expiration Date}}'''” will be specified in an {{eqderivprov|Option Transaction}} {{eqderivprov|Confirmation}} (or, if it is not a {{eqderivprov|Scheduled Trading Day}}, the following {{eqderivprov|Scheduled Trading Day}}), unless that day has become a {{eqderivprov|Disrupted Day}} before the {{eqderivprov|Latest Exercise Time}}. In this case it will be the next undisrupted {{eqderivprov|Scheduled Trading Day}}, though if eight {{eqderivprov|Scheduled Trading Days}} in a row are {{eqderivprov|Disrupted Day}}s, the eighth one, even though a {{eqderivprov|Disrupted Day}}, will be the {{eqderivprov|Expiration Date}}. In any case, if an {{eqderivprov|Option Transaction}} is exercised on a {{eqderivprov|Scheduled Trading Day}} that would have been an {{eqderivprov|Expiration Date}} had it not been a {{eqderivprov|Disrupted Day}}, that day will be treated as the {{eqderivprov|Expiration Date}} when determining whether an {{eqderivprov|Exercise Date}} has occurred during the {{eqderivprov|Exercise Period}}. <br>
:{{eqderivprov|3.1(f)}} '''{{eqderivprov|Expiration Date}}'''. “'''{{eqderivprov|Expiration Date}}'''” means, in respect of an {{eqderivprov|Option Transaction}}, the date specified as such in the related {{eqderivprov|Confirmation}} (or, if such date is not a {{eqderivprov|Scheduled Trading Day}}, the next following {{eqderivprov|Scheduled Trading Day}}), unless such date is a {{eqderivprov|Disrupted Day}} due to the occurrence of an event giving rise to a {{eqderivprov|Disrupted Day}} prior to the {{eqderivprov|Latest Exercise Time}} on such date. If such date is a {{eqderivprov|Disrupted Day}} due to the occurrence of such an event, then the {{eqderivprov|Expiration Date}} shall be the first succeeding {{eqderivprov|Scheduled Trading Day}} that is not a {{eqderivprov|Disrupted Day}}, unless each of the eight {{eqderivprov|Scheduled Trading Days}} immediately following the original date that, but for the occurrence of a {{eqderivprov|Disrupted Day}}, would have been the Expiration Date is a {{eqderivprov|Disrupted Day}}. In that case, that eighth {{eqderivprov|Scheduled Trading Day}} shall be deemed to be the {{eqderivprov|Expiration Date}}, notwithstanding the fact that such day is a {{eqderivprov|Disrupted Day}}. Notwithstanding the foregoing, if an {{eqderivprov|Option Transaction}} is exercised on a {{eqderivprov|Scheduled Trading Day}} that would have been an {{eqderivprov|Expiration Date}} but for the occurrence of an event giving rise to a {{eqderivprov|Disrupted Day}}, such {{eqderivprov|Scheduled Trading Day}} shall be deemed to be the {{eqderivprov|Expiration Date}} for the purpose of determining whether an {{eqderivprov|Exercise Date}} has occurred during the {{eqderivprov|Exercise Period}}. <br>

Latest revision as of 07:35, 11 May 2022

3.1(f) “Expiration Date” will be specified in an Option Transaction Confirmation (or, if it is not a Scheduled Trading Day, the following Scheduled Trading Day), unless that day has become a Disrupted Day before the Latest Exercise Time. In this case it will be the next undisrupted Scheduled Trading Day, though if eight Scheduled Trading Days in a row are Disrupted Days, the eighth one, even though a Disrupted Day, will be the Expiration Date. In any case, if an Option Transaction is exercised on a Scheduled Trading Day that would have been an Expiration Date had it not been a Disrupted Day, that day will be treated as the Expiration Date when determining whether an Exercise Date has occurred during the Exercise Period.
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