Template:2002 ISDA Equity Derivatives Definitions 1.25: Difference between revisions
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Section '''{{eqderivprov|1.25}}'''. '''{{eqderivprov|Exchange}}'''. | Section '''{{eqderivprov|1.25}}'''. '''{{eqderivprov|Exchange}}'''. “'''{{eqderivprov|Exchange}}'''" means: <br> | ||
:{{eqderivprov|1.25(a)}} in respect of an {{eqderivprov|Index}} relating to an {{eqderivprov|Index Transaction}} or {{eqderivprov|Index Basket Transaction}}, each <br>exchange or quotation system specified as such for such {{eqderivprov|Index}} in the related {{eqderivprov|Confirmation}}, any successor <br>to such exchange or quotation system or any substitute exchange or quotation system to which trading in <br>the {{eqderivprov|Shares}} underlying such {{eqderivprov|Index}} has temporarily relocated (provided that the {{eqderivprov|Calculation Agent}} has <br>determined that there is comparable liquidity relative to the {{eqderivprov|Shares}} underlying such {{eqderivprov|Index}} on such <br>temporary substitute exchange or quotation system as on the original {{eqderivprov|Exchange}}); and | :{{eqderivprov|1.25(a)}} in respect of an {{eqderivprov|Index}} relating to an {{eqderivprov|Index Transaction}} or {{eqderivprov|Index Basket Transaction}}, each <br>exchange or quotation system specified as such for such {{eqderivprov|Index}} in the related {{eqderivprov|Confirmation}}, any successor <br>to such exchange or quotation system or any substitute exchange or quotation system to which trading in <br>the {{eqderivprov|Shares}} underlying such {{eqderivprov|Index}} has temporarily relocated (provided that the {{eqderivprov|Calculation Agent}} has <br>determined that there is comparable liquidity relative to the {{eqderivprov|Shares}} underlying such {{eqderivprov|Index}} on such <br>temporary substitute exchange or quotation system as on the original {{eqderivprov|Exchange}}); and | ||
:{{eqderivprov|1.25(b)}} in respect of a {{eqderivprov|Share}} relating to a {{eqderivprov|Share Transaction}} or {{eqderivprov|Share Basket Transaction}}, each <br>exchange or quotation system specified as such for such {{eqderivprov|Share}} in the related {{eqderivprov|Confirmation}}, any successor <br>to such exchange or quotation system or any substitute exchange or quotation system to which trading in <br>the {{eqderivprov|Share}} has temporarily relocated (provided that the {{eqderivprov|Calculation Agent}} has determined that there is <br>comparable liquidity relative to such Share on such temporary substitute exchange or quotation system as <br>on the original {{eqderivprov|Exchange}}). | :{{eqderivprov|1.25(b)}} in respect of a {{eqderivprov|Share}} relating to a {{eqderivprov|Share Transaction}} or {{eqderivprov|Share Basket Transaction}}, each <br>exchange or quotation system specified as such for such {{eqderivprov|Share}} in the related {{eqderivprov|Confirmation}}, any successor <br>to such exchange or quotation system or any substitute exchange or quotation system to which trading in <br>the {{eqderivprov|Share}} has temporarily relocated (provided that the {{eqderivprov|Calculation Agent}} has determined that there is <br>comparable liquidity relative to such Share on such temporary substitute exchange or quotation system as <br>on the original {{eqderivprov|Exchange}}). | ||
Revision as of 08:18, 16 September 2016
Section 1.25. Exchange. “Exchange" means:
- 1.25(a) in respect of an Index relating to an Index Transaction or Index Basket Transaction, each
exchange or quotation system specified as such for such Index in the related Confirmation, any successor
to such exchange or quotation system or any substitute exchange or quotation system to which trading in
the Shares underlying such Index has temporarily relocated (provided that the Calculation Agent has
determined that there is comparable liquidity relative to the Shares underlying such Index on such
temporary substitute exchange or quotation system as on the original Exchange); and - 1.25(b) in respect of a Share relating to a Share Transaction or Share Basket Transaction, each
exchange or quotation system specified as such for such Share in the related Confirmation, any successor
to such exchange or quotation system or any substitute exchange or quotation system to which trading in
the Share has temporarily relocated (provided that the Calculation Agent has determined that there is
comparable liquidity relative to such Share on such temporary substitute exchange or quotation system as
on the original Exchange).