Template:Nutshell Equity Derivatives 3.1(c): Difference between revisions

From The Jolly Contrarian
Jump to navigation Jump to search
(Created page with "{{subst:2002 ISDA Equity Derivatives Definitions 3.1(c)}}")
 
No edit summary
 
Line 1: Line 1:
 
:{{eqderivprov|3.1(c)}} “'''{{eqderivprov|Potential Exercise Date}}'''” means each specified as such in a {{eqderivprov|Bermuda Option}} {{eqderivprov|Confirmation}} (or, if it is not a {{eqderivprov|Scheduled Trading Day}}, the next following {{eqderivprov|Scheduled Trading Day}}), unless it is a {{eqderivprov|Disrupted Day}} due to an event occurring before the {{eqderivprov|Latest Exercise Time}} in which case it will be the following undisrupted {{eqderivprov|Scheduled Trading Day}}, though if eight {{eqderivprov|Scheduled Trading Days}} in a row are {{eqderivprov|Disrupted Day}}s, the eighth one, even though a {{eqderivprov|Disrupted Day}}, will be the {{eqderivprov|Potential Exercise Date}}. In any case, if an {{eqderivprov|Option Transaction}} is exercised on a {{eqderivprov|Scheduled Trading Day}} that would have been an {{eqderivprov|Potential Exercise Date}} had it not been a {{eqderivprov|Disrupted Day}}, that day will be treated as the {{eqderivprov|Potential Exercise Date}} when determining whether an {{eqderivprov|Exercise Date}} has occurred during the {{eqderivprov|Exercise Period}}. <br>
:{{eqderivprov|3.1(c)}} '''{{eqderivprov|Potential Exercise Date}}'''. “'''{{eqderivprov|Potential Exercise Date}}'''” means, in respect of a {{eqderivprov|Bermuda Option}}, each date specified as such in the related {{eqderivprov|Confirmation}} (or, if such date is not a {{eqderivprov|Scheduled Trading Day}}, the next following {{eqderivprov|Scheduled Trading Day}}), unless such date is a {{eqderivprov|Disrupted Day}} due to the occurrence of an event giving rise to a {{eqderivprov|Disrupted Day}} prior to the {{eqderivprov|Latest Exercise Time}} on such date. If such date is a {{eqderivprov|Disrupted Day}} due to the occurrence of such an event, then the {{eqderivprov|Potential Exercise Date}} shall be the first succeeding {{eqderivprov|Scheduled Trading Day}} that is not a {{eqderivprov|Disrupted Day}}, unless each of the eight {{eqderivprov|Scheduled Trading Days}} immediately following the original date that, but for the occurrence of a {{eqderivprov|Disrupted Day}}, would have been the {{eqderivprov|Potential Exercise Date}} is a {{eqderivprov|Disrupted Day}}. In that case, that eighth {{eqderivprov|Scheduled Trading Day}} shall be deemed to be the {{eqderivprov|Potential Exercise Date}}, notwithstanding the fact that such day is a {{eqderivprov|Disrupted Day}}. Notwithstanding the foregoing, if an {{eqderivprov|Option Transaction}} is exercised on a {{eqderivprov|Scheduled Trading Day}} that would have been a {{eqderivprov|Potential Exercise Date}} prior to the occurrence of an event giving rise to a {{eqderivprov|Disrupted Day}}, such {{eqderivprov|Scheduled Trading Day}} shall be deemed to be the {{eqderivprov|Potential Exercise Date}} for the purpose of determining whether an Exercise Date has occurred during the {{eqderivprov|Exercise Period}}.

Latest revision as of 07:57, 11 May 2022

3.1(c) “Potential Exercise Date” means each specified as such in a Bermuda Option Confirmation (or, if it is not a Scheduled Trading Day, the next following Scheduled Trading Day), unless it is a Disrupted Day due to an event occurring before the Latest Exercise Time in which case it will be the following undisrupted Scheduled Trading Day, though if eight Scheduled Trading Days in a row are Disrupted Days, the eighth one, even though a Disrupted Day, will be the Potential Exercise Date. In any case, if an Option Transaction is exercised on a Scheduled Trading Day that would have been an Potential Exercise Date had it not been a Disrupted Day, that day will be treated as the Potential Exercise Date when determining whether an Exercise Date has occurred during the Exercise Period.
Retrieved from "https://jollycontrarian.com/index.php?title=Template:Nutshell_Equity_Derivatives_3.1(c)&oldid=63842"