Template:Nutshell Equity Derivatives 6.7(c)(iii): Difference between revisions

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::{{eqderivprov|6.7(c)(iii)}} “'''{{eqderivprov|Modified Postponement}}'''”, then:  
::{{eqderivprov|6.7(c)(iii)}} “'''{{eqderivprov|Modified Postponement}}'''”, then:  
:::(A) in the case of an {{eqderivprov|Index Transaction}} or a {{eqderivprov|Share Transaction}}, the {{eqderivprov|Averaging Date}} shall be the first succeeding {{eqderivprov|Valid Date}}. If the first succeeding Valid Date has not occurred as of the {{eqderivprov|Valuation Time}} on the eighth {{eqderivprov|Scheduled Trading Day}} immediately following the original date that, but for the occurrence of another Averaging Date or {{eqderivprov|Disrupted Day}}, would have been the final {{eqderivprov|Averaging Date}} in respect of the relevant {{eqderivprov|Scheduled Valuation Date}}, then (1) that eighth {{eqderivprov|Scheduled Trading Day}} shall be deemed the {{eqderivprov|Averaging Date}} (irrespective of whether that eighth {{eqderivprov|Scheduled Trading Day}} is already an {{eqderivprov|Averaging Date}}), and (2) the {{isdaprov|Calculation Agent}} shall determine the relevant level or price for that {{eqderivprov|Averaging Date}} in accordance with Section {{eqderivprov|6.6}};  
:::(A) '''{{eqderivprov|Index Transaction}}s and {{eqderivprov|Share Transaction}}s''': The {{eqderivprov|Averaging Date}} will be the next {{eqderivprov|Valid Date}}, though if one has not occurred by the {{eqderivprov|Valuation Time}} on the eighth {{eqderivprov|Scheduled Trading Day}} following the originally disrupted {{eqderivprov|Averaging Date}} or {{eqderivprov|Disrupted Day}}:
:::(B) in the case of an {{eqderivprov|Index Basket Transaction}} or a Share Basket Transaction, the {{eqderivprov|Averaging Date}} for each {{eqderivprov|Index}} or {{eqderivprov|Share}} not affected by the occurrence of a {{eqderivprov|Disrupted Day}} shall be the date specified in the {{eqderivprov|Confirmation}} as an {{eqderivprov|Averaging Date}} in respect of the relevant {{eqderivprov|Valuation Date}} and the {{eqderivprov|Averaging Date}} for an {{eqderivprov|Index}} or {{eqderivprov|Share}} affected by the occurrence of a {{eqderivprov|Disrupted Day}} shall be the first succeeding {{eqderivprov|Valid Date}} in relation to such {{eqderivprov|Index}} or {{eqderivprov|Share}}. If the first succeeding {{eqderivprov|Valid Date}} in respect of such {{eqderivprov|Index}} or {{eqderivprov|Share}} has not occurred as of the {{eqderivprov|Valuation Time}} on the eighth Scheduled Trading Day immediately following the original date that, but for the occurrence of another {{eqderivprov|Averaging Date}} or {{eqderivprov|Disrupted Day}}, would have been the final {{eqderivprov|Averaging Date}} in relation to the relevant {{eqderivprov|Scheduled Valuation Date}}, then (1) that eighth Scheduled Trading Day shall be deemed to be the {{eqderivprov|Averaging Date}} (irrespective of whether that eighth {{eqderivprov|Scheduled Trading Day}} is already an {{eqderivprov|Averaging Date}}) in respect of such {{eqderivprov|Index}} or {{eqderivprov|Share}}, and (2) the {{isdaprov|Calculation Agent}} shall determine the relevant level, price or amount for that {{eqderivprov|Averaging Date}} in accordance with Section {{eqderivprov|6.6}}; and  
::::(1) that eighth {{eqderivprov|Scheduled Trading Day}} will be the {{eqderivprov|Averaging Date}} even if it is already an {{eqderivprov|Averaging Date}}), and  
:::(C) “'''{{eqderivprov|Valid Date}}'''” shall mean a {{eqderivprov|Scheduled Trading Day}} that is not a Disrupted Day and on which another {{eqderivprov|Averaging Date}} in respect of the relevant {{eqderivprov|Valuation Date}} does not or is not deemed to occur. <br>
::::(2) the {{isdaprov|Calculation Agent}} will determine the relevant level for that {{eqderivprov|Averaging Date}} per Section {{eqderivprov|6.6}};  
:::(B) '''{{eqderivprov|Index Basket Transaction}}s or {{eqderivprov|Share Basket Transaction}}s''': the {{eqderivprov|Averaging Date}} for each unaffected {{eqderivprov|Index}} or {{eqderivprov|Share}} will be as specified in the {{eqderivprov|Confirmation}} as an {{eqderivprov|Averaging Date}} for tat  {{eqderivprov|Valuation Date}} and the {{eqderivprov|Averaging Date}} for a disrupted {{eqderivprov|Index}} or {{eqderivprov|Share}} will be the next {{eqderivprov|Valid Date}} for the {{eqderivprov|Index}} or {{eqderivprov|Share}}. However if the next {{eqderivprov|Valid Date}} for the {{eqderivprov|Index}} or {{eqderivprov|Share}} has not occurred by the {{eqderivprov|Valuation Time}} on that eighth following {{eqderivprov|Scheduled Trading Day}} then:
::::(1) that eighth {{eqderivprov|Scheduled Trading Day}} will be the {{eqderivprov|Averaging Date}} (even if it is already an {{eqderivprov|Averaging Date}}) for the {{eqderivprov|Index}} or {{eqderivprov|Share}}, and  
::::(2) the {{isdaprov|Calculation Agent}} will determine the relevant level under Section {{eqderivprov|6.6}}; and  
:::(C) “'''{{eqderivprov|Valid Date}}'''” means an undisrupted {{eqderivprov|Scheduled Trading Day}} on which another {{eqderivprov|Averaging Date}} for the same {{eqderivprov|Valuation Date}} does not occur. <br>

Revision as of 15:29, 11 May 2022

6.7(c)(iii) “Modified Postponement”, then:
(A) Index Transactions and Share Transactions: The Averaging Date will be the next Valid Date, though if one has not occurred by the Valuation Time on the eighth Scheduled Trading Day following the originally disrupted Averaging Date or Disrupted Day:
(1) that eighth Scheduled Trading Day will be the Averaging Date even if it is already an Averaging Date), and
(2) the Calculation Agent will determine the relevant level for that Averaging Date per Section 6.6;
(B) Index Basket Transactions or Share Basket Transactions: the Averaging Date for each unaffected Index or Share will be as specified in the Confirmation as an Averaging Date for tat Valuation Date and the Averaging Date for a disrupted Index or Share will be the next Valid Date for the Index or Share. However if the next Valid Date for the Index or Share has not occurred by the Valuation Time on that eighth following Scheduled Trading Day then:
(1) that eighth Scheduled Trading Day will be the Averaging Date (even if it is already an Averaging Date) for the Index or Share, and
(2) the Calculation Agent will determine the relevant level under Section 6.6; and
(C) “Valid Date” means an undisrupted Scheduled Trading Day on which another Averaging Date for the same Valuation Date does not occur.
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