Template:Nutshell Equity Derivatives 9.4: Difference between revisions
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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 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. | ||
If | If only some {{eqderivprov|Shares}} in a basket are disrupted, the unaffected portion will be settled without any such delay. | ||
Revision as of 10:53, 16 December 2015
Section 9.4. Settlement Date. "Settlement Date" means:
- (a) for Option Transactions, the first Clearance System Business Day occurring one Settlement Cycle after the Exercise Date; and
- (b) for Forward Transactions and Equity Swap Transactions, the date specified as such (or failing that one Settlement Cycle after the Valuation Date (adjusted for Clearance System Business Days).
HOWEVER the Settlement Date will be delayed if there is Settlement Disruption Event until it has lifted. If it doesn’t lift for 8 successive 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 will be settled without any such delay.