Template:Nutshell Equity Derivatives 6.3(a): Difference between revisions

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Template:Nutshell Equity Derivatives 6.3(a) (view source)

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 :(i) a material {{eqderivprov|Trading Disruption}} or {{eqderivprov|Exchange Disruption}} to a {{eqderivprov|Share}} or {{eqderivprov|Index}} during the hour before the {{eqderivprov|Valuation Time}} (etc), or
 :(ii) an {{eqderivprov|Early Closure}}. <br>
-When determining materiality  of disruption for an index, a security's percentage contribution to an {{eqderivprov|Index}} level will be based on its contribution to the overall level of the {{eqderivprov|Index}} just before the {{eqderivprov|Market Disruption Event}} happened. <br>
+To work out whether there is a {{eqderivprov|Market Disruption Event}} on an {{eqderivprov|Index}} due to a {{eqderivprov|Market Disruption Event}} on one of its component securities, the {{isdaprov|Calculation Agent}} will determine the percentage that security contributes to the {{eqderivprov|Index}} by comparing
+:(x) how much of the {{eqderivprov|Index}} level is attributable to that security with
-<span style="font-family:Garamond;">To work out whether a ''Market Disruption Event'' exists for an entire Index as a result of a Market Disruption Event existing for one of its component securities Index, then that security's relevant percentage contribution to the Index will be based on a comparison of (x) the portion of the of the Index level  attributable to that security and (y) the overall level of the Index, in each case immediately before the occurrence of such Market Disruption Event.</span style>
+:(y) the {{eqderivprov|Index}} level just before the {{eqderivprov|Market Disruption Event}} happened.<br>