Template:M summ Equity Derivatives 12.9(a)(iii)

Not generally stipulated as an Additional Disruption Event because firstly it would only be relevant in a physically-settled swap, and for a host of reasons a physicsally settled synthetic instrument is a bit of a contradiction in terms — and in any case a settlement failure due to illiquidity is a racingly certain prospect in certain stock lines, and is more the rule than the exception in others, and is generally dealt with through buy-ins.