Related Exchange - Equity Derivatives Provision: Difference between revisions
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{{eqderivanat|1.26}} | {{eqderivanat|1.26}} | ||
Relevant to {{eqderivprov|Market Disruption Event}}. See also the related definition at "'''{{eqderivprov|Exchange}}'''”. | |||
In each case, the relevant {{eqderivprov|Exchange}} or {{eqderivprov|Related Exchange}} is simply the exchange specified as such in the {{isdaprov|Confirmation}}. | |||
There is a corresponding fallback to substitute exchanges (what we our our nutshelly way call “{{eqderivprov|Alternative Exchange}}s”) to which trading has temporarily located, although it is expresses slightly differently (more succinctly) here. | |||
{{quote|provided, however, that where “{{eqderivprov|All Exchanges}}” is specified as the Related Exchange in the related {{isdaprov|Confirmation}}, “{{eqderivprov|Related Exchange}}” shall mean each exchange or quotation system where trading has a material effect (as determined by the {{eqderivprov|Calculation Agent}}) on the overall market for futures or options contracts relating to such {{eqderivprov|Index}} or such {{eqderivprov|Share}}.}} | ===And the difference between {{eqderivprov|Exchange}} and {{eqderivprov|Related Exchange}} is what exactly?=== | ||
The difference between the two is the inclusion in {{eqderivprov|Related Exchange}} of the “{{eqderivprov|All Exchanges}}” [[proviso]]. In practice this is what you tend to see — “{{eqderivprov|Related Exchanges}}”, if used, is set to “{{eqderivprov|All Exchanges}}”: | |||
{{quote|...provided, however, that where “{{eqderivprov|All Exchanges}}” is specified as the {{eqderivprov|Related Exchange}} in the related {{isdaprov|Confirmation}}, “{{eqderivprov|Related Exchange}}” shall mean each exchange or quotation system where trading has a material effect (as determined by the {{eqderivprov|Calculation Agent}}) on the overall market for futures or options contracts relating to such {{eqderivprov|Index}} or such {{eqderivprov|Share}}.}} | |||
{{seealso}} | |||
*{{eqderivprov|1.25}} {{eqderivprov|Exchange}} | |||
Revision as of 13:34, 14 June 2018
Template:Eqderivanat Relevant to Market Disruption Event. See also the related definition at "Exchange”.
In each case, the relevant Exchange or Related Exchange is simply the exchange specified as such in the Confirmation.
There is a corresponding fallback to substitute exchanges (what we our our nutshelly way call “Alternative Exchanges”) to which trading has temporarily located, although it is expresses slightly differently (more succinctly) here.
And the difference between Exchange and Related Exchange is what exactly?
The difference between the two is the inclusion in Related Exchange of the “All Exchanges” proviso. In practice this is what you tend to see — “Related Exchanges”, if used, is set to “All Exchanges”:
...provided, however, that where “All Exchanges” is specified as the Related Exchange in the related Confirmation, “Related Exchange” shall mean each exchange or quotation system where trading has a material effect (as determined by the Calculation Agent) on the overall market for futures or options contracts relating to such Index or such Share.