Template:M summ Equity Derivatives 12.7

The calculation of Cancellation Amounts following Extraordinary Events is one of those classic negotiation oubliettes that opposing counsel will gladly fall into like Unlucky Alf falling into an open manhole. The JC has seen storied partners of serious law firms get in quite the lather about this, treating the determination of these amounts as an opportunity for venal derivatives dealers opportunistically to rip hunks off their customers’ faces.

This is a wonderful narrative, vouchsafing as it does tedious, remunerative arguments that their clients may believe do them a great service, but it really need not be that complicated.