Related Exchange - Equity Derivatives Provision: Difference between revisions
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There is a corresponding fallback to substitute exchanges to whcih trading has temporarily located, although it is expresses slightly differently (more succinctly) here. | There is a corresponding fallback to substitute exchanges to whcih trading has temporarily located, although it is expresses slightly differently (more succinctly) here. | ||
The difference between | The difference between the two is the inclusion in the definition of {{eqderivprov|Related Exchange}} of the proviso about "All Exchanges": | ||
{{quote|provided, however, that where "All Exchanges" is specified as the Related Exchange in the related | {{quote|provided, however, that where "All Exchanges" is specified as the Related Exchange in the related | ||
Revision as of 13:59, 30 October 2012
Commentary
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 to whcih trading has temporarily located, although it is expresses slightly differently (more succinctly) here.
The difference between the two is the inclusion in the definition of Related Exchange of the proviso about "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.