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{{ | {{eqderivanat|6.3(a)|}} | ||
===What counts as Market Disruption?=== | |||
A {{eqderivprov|Market Disruption Event}} is a {{eqderivprov|Trading Disruption}} or {{eqderivprov|Exchange Disruption}} at any time during the hour before any {{eqderivprov|Valuation Time}} or {{eqderivprov|Exercise Time}}, or {{eqderivprov|Early Closure}}. | A {{eqderivprov|Market Disruption Event}} is a {{eqderivprov|Trading Disruption}} or {{eqderivprov|Exchange Disruption}} at any time during the hour before any {{eqderivprov|Valuation Time}} or {{eqderivprov|Exercise Time}}, or {{eqderivprov|Early Closure}}. | ||
*'''{{eqderivprov|Trading Disruption}}''': suspension/limitation in trading on an underlier (or futures on it) on any {{eqderivprov|Exchange}}/{{eqderivprov|Related Exchange}} | *'''{{eqderivprov|Trading Disruption}}''': suspension/limitation in trading on an underlier (or futures on it) on any {{eqderivprov|Exchange}}/{{eqderivprov|Related Exchange}} | ||
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Additionally a day is “{{eqderivprov|Disrupted Day}}” if an {{eqderivprov|Exchange}}/{{eqderivprov|Related Exchange}} fails to open for trading during a regular trading session. | Additionally a day is “{{eqderivprov|Disrupted Day}}” if an {{eqderivprov|Exchange}}/{{eqderivprov|Related Exchange}} fails to open for trading during a regular trading session. | ||
===Indices=== | |||
In the case of an {{eqderivprov|Index}}, the disruption needs to affect 20% of more of the securities comprising the {{eqderivprov|Index}} for the {{eqderivprov|Index}} to be treated as disrupted. In that case valuation is moved for the whole index, not just the disrupted part. | In the case of an {{eqderivprov|Index}}, the disruption needs to affect 20% of more of the securities comprising the {{eqderivprov|Index}} for the {{eqderivprov|Index}} to be treated as disrupted. In that case valuation is moved for the whole index, not just the disrupted part. | ||