Derivative contract adjustment threshold revised; adjustments now triggered only for sufficiently material dividend declarations. Adjustment in single stock futures and options will be carried out only where dividend declarations meet or exceed a specified market value threshold; earlier circulars are modified to that extent while other provisions remain applicable. Exchanges and clearing corporations must implement systems, amend rules and bye laws as needed, disseminate the circular to members and confirm implementation to the regulator; the revision applies to announcements on or after the circular's effective date.
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Provisions expressly mentioned in the judgment/order text.
Derivative contract adjustment threshold revised; adjustments now triggered only for sufficiently material dividend declarations.
Adjustment in single stock futures and options will be carried out only where dividend declarations meet or exceed a specified market value threshold; earlier circulars are modified to that extent while other provisions remain applicable. Exchanges and clearing corporations must implement systems, amend rules and bye laws as needed, disseminate the circular to members and confirm implementation to the regulator; the revision applies to announcements on or after the circular's effective date.
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