Template:Nutshell Equity Derivatives 9.4: Difference between revisions
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Amwelladmin (talk | contribs) Created page with "Section {{eqderivprov|9.4}}. {{eqderivprov|Settlement Date}}. "{{eqderivprov|Settlement Date}}" means: :(a) for {{eqderivprov|Option Transaction}}s, the first {{eqderivprov|Cl..." |
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:(b) for {{eqderivprov|Forward Transaction}}s and {{eqderivprov|Equity Swap Transaction}}s, the date specified (or if not specified, one {{eqderivprov|Settlement Cycle}} following the {{eqderivprov|Valuation Date}} (adjusted if not a {{eqderivprov|Clearance System Business Day}}) unless there is a {{eqderivprov|Settlement Disruption Event}} on the relevant date. | :(b) for {{eqderivprov|Forward Transaction}}s and {{eqderivprov|Equity Swap Transaction}}s, the date specified (or if not specified, one {{eqderivprov|Settlement Cycle}} following the {{eqderivprov|Valuation Date}} (adjusted if not a {{eqderivprov|Clearance System Business Day}}) unless there is a {{eqderivprov|Settlement Disruption Event}} on the relevant date. | ||
If there is {{eqderivprov|Settlement Disruption Event}} on that date, the {{eqderivprov|Settlement Date}} will be | If there is {{eqderivprov|Settlement Disruption Event}} on that date, the {{eqderivprov|Settlement Date}} will be delayed until it has lifted unless it doesn’t lift for 8 successive {{eqderivprov|Clearance System Business Day}}s, in which case if the {{eqderivprov|Shares}} can be delivered some other way, the {{eqderivprov|Settlement Date}} will be the date on which a sale executed on that eighth {{eqderivprov|Clearance System Business Day}} would settle. If they can't, the {{eqderivprov|Settlement Date}} will be postponed until delivery can be effected. | ||
If a {{eqderivprov|Settlement Disruption Event}} affects some but not all of the {{eqderivprov|Shares}} in a {{eqderivprov|Share Basket Transaction}}, the {{eqderivprov|Settlement Date}} for unaffected {{eqderivprov|Shares}} will be the original {{eqderivprov|Settlement Date}} and for affected {{eqderivprov|Shares}} will be determined as provided above. | If a {{eqderivprov|Settlement Disruption Event}} affects some but not all of the {{eqderivprov|Shares}} in a {{eqderivprov|Share Basket Transaction}}, the {{eqderivprov|Settlement Date}} for unaffected {{eqderivprov|Shares}} will be the original {{eqderivprov|Settlement Date}} and for affected {{eqderivprov|Shares}} will be determined as provided above. | ||
Revision as of 10:41, 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 following the Exercise Date; and
- (b) for Forward Transactions and Equity Swap Transactions, the date specified (or if not specified, one Settlement Cycle following the Valuation Date (adjusted if not a Clearance System Business Day) unless there is a Settlement Disruption Event on the relevant date.
If there is Settlement Disruption Event on that date, the Settlement Date will be delayed until it has lifted unless it doesn’t lift for 8 successive Clearance System Business Days, in which case if the Shares can be delivered some other way, the Settlement Date will be the date on which a sale executed on that eighth Clearance System Business Day would settle. If they can't, the Settlement Date will be postponed until delivery can be effected.
If a Settlement Disruption Event affects some but not all of the Shares in a Share Basket Transaction, the Settlement Date for unaffected Shares will be the original Settlement Date and for affected Shares will be determined as provided above.