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) '''{{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}}: | :::(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}}: | ||
::::(1) that eighth {{eqderivprov|Scheduled Trading Day}} will be the {{eqderivprov|Averaging Date}} even if it is already an {{eqderivprov|Averaging Date}}), and | ::::(1) that eighth {{eqderivprov|Scheduled Trading Day}} will be the {{eqderivprov|Averaging Date}} (even if it is already an {{eqderivprov|Averaging Date}}), and | ||
::::(2) the {{isdaprov|Calculation Agent}} will determine the relevant level for that {{eqderivprov|Averaging Date}} per Section {{eqderivprov|6.6}}; | ::::(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: | :::(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}}) | ::::(1) that eighth {{eqderivprov|Scheduled Trading Day}} will be the {{eqderivprov|Averaging Date}} (even if it is already an {{eqderivprov|Averaging Date}}) and | ||
::::(2) the {{isdaprov|Calculation Agent}} will determine the relevant level under Section {{eqderivprov|6.6}}; 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> | :::(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> | ||
Latest 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) 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.
- (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:
- 6.7(c)(iii) “Modified Postponement”, then: