Template:Nutshell Equity Derivatives 1.23(b): Difference between revisions

:{{eqderivprov|1.23(b)}} For a {{eqderivprov|Share}}, the price per {{eqderivprov|Share}} the {{eqderivprov|Calculation Agent}} determines as of the {{eqderivprov|Valuation Time}} on the {{eqderivprov|Valuation Date}} or {{eqderivprov|Averaging Date}} as specified in the {{eqderivprov|Confirmation}} or, if not specified:  <br>

::(i) '''Open outcry {{eqderivprov|Exchange}}s''': for any {{eqderivprov|Share}} trading on an “'''{{eqderivprov|open outcry}}'''” {{eqderivprov|Exchange}} that has a tradable price as of the {{eqderivprov|Valuation Time}}, the official trading price per {{eqderivprov|Share}} as of the relevant {{eqderivprov|Valuation Time}} reported by the {{eqderivprov|Exchange}}; and  <br>

::(ii) '''Dealer quotation {{eqderivprov|Exchange}}s''': for any {{eqderivprov|Share}} trading on a dealer quotation {{eqderivprov|Exchange}}, the mid-point of the highest bid and lowest ask prices quoted as of (or immediately before) the {{eqderivprov|Valuation Time}} on the {{eqderivprov|Valuation Date}} or {{eqderivprov|Averaging Date}} ignoring quotations that “'''{{eqderivprov|lock}}'''” or “'''{{eqderivprov|cross}}'''” the {{eqderivprov|Exchange}}. <br>