Template:Nutshell Equity Derivatives 2.4

2.4. Terms Relating to Premium.

2.4(a) Payment of Premium: Buyer must pay Seller the Option Transaction Premium on the Premium Payment Date.

2.4(b) “Premium” for an Option Transaction will be specified in the Confirmation. Where the Confirmation specifies a Premium per Option, the Premium will be the product of the per-Option Premium and the Number of Options.

2.4(c) “Premium Payment Date” will be the date specified as such in the Option Transaction Confirmation or, if it is not a Currency Business Day for the currency of the Premium, the next following Currency Business Day. If it is not specified, the Premium Payment Date will fall one Settlement Cycle following the Trade Date, or if that is not a Currency Business Day, the next following Currency Business Day.