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So the two are independent: one is where you want to carry on; one where you don’t. So you don't have to wait for a period of {{eqderivprov|Exchange Disruption}} before invoking a {{eqderivprov|Hedging Disruption}}, and conversely you could — in theory at any rate — designate an {{eqderivprov|Exchange Disruption}} even if there were no {{eqderivprov|Hedging Disruption}} in existence. | So the two are independent: one is where you want to carry on; one where you don’t. So you don't have to wait for a period of {{eqderivprov|Exchange Disruption}} before invoking a {{eqderivprov|Hedging Disruption}}, and conversely you could — in theory at any rate — designate an {{eqderivprov|Exchange Disruption}} even if there were no {{eqderivprov|Hedging Disruption}} in existence. | ||
Now in point of fact, an {{eqderivprov|Exchange Disruption}} usually will count as a {{eqderivprov|Hedging Disruption}} | Now in point of fact, an {{eqderivprov|Exchange Disruption}} — especially a long one — usually ''will'' count as a {{eqderivprov|Hedging Disruption}} which might be why the {{eqderivprov|Consequences of Disrupted Days}} wording in Section {{eqderivprov|6.6}} seems to run out of enthusiasm for its own existence, as if {{icds}} suddenly realised the whole world is futile and threw in the towel. After all, if there have been eight straight {{eqderivprov|Disrupted Day}}s, the likelihood that one or other party hasn’t canned the {{eqderivprov|Transaction}} on the grounds of {{eqderivprov|Hedging Disruption}} must be pretty low. <br> | ||