Hedge Positions - Equity Derivatives Provision

Template:Eqderivanat Would a Hedge Position include any FX transactions required to convert positions and proceeds of hedge disposal into the Settlement Currency? You may find assiduous fellows that would find it prudent to clarify. Not this one, however: FX risk seems to this commentator to be a natural consequence of Section 13.2(b), so no such anality required.

Whither the Hedging Party

A more careful draftsperson might have mentioned that the Hedging Party might not necessarily be one of the counterparties, but might be an affiliate, and this wording might have more clearly captured that.

A lover of fair, large and liberal interpretations of tiresome legal agreements might wonder whether it would be much of a stretch to extend reference to the "arrangements" a party makes to include its affiliates and hedging agents of course. Especially where, as they will, they will pass the costs of those hedges on to the direct party.