TARGET system

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Equity Derivatives Anatomy™


Resources About the Equity Derivatives Definitions | (full wikitext) | (nutshell wikitext)
Hot topics Synthetic Prime Brokerage Anatomy | The Triple Cocktail | Cancellation and Payment | Calculation Agent
TOC | 1 General Definitions | 2 Option Transactions | 3 Exercise of Options | 4 Forward Transactions | 5 Equity Swap Transactions | 6 Valuation | 7 Settlement | 8 Cash Settlement | 9 Physical Settlement | 10 Dividends | 11 Adjustments and Modifications | 12 Extraordinary Events · 12.8 Cancellation Amount · 12.9 Additional Disruption Events · 12.9 List of ADEs · 12.9(b) Consequences of ADEs | 13 Miscellaneous

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When chatting about financial markets, TARGET usually refers to the storied Trans-European Automated Real-time Gross settlement Express Transfer System, used for settling payments in euro.

Famously workaholic, like rust, the Target system never sleeps, and never has a day off. Except, being European, it's subject to the working time directive, and doesn't work Saturdays or Sundays, or on New Year's Day, Good Friday, Easter Monday, 1 May (Labour Day), Christmas Day or 26 December. And it goes away for a month in August.

See also