Template:M summ Equity Derivatives 12.9(a)(v)

It isn’t brilliantly worded, but the spirit is clear: it is not just that your particular hedge went kaput, but that you could find any reasonably suitable replacement for it. Okay, the equities market might be locked up, but what about futures? I grant you, if the underlying market is disrupted, it’s likely the listed options and futures market will be too, but you never know. How about ADRs or GDRs?