Common use of Forming Transactions from Spread Products Clause in Contracts

Forming Transactions from Spread Products. Where a Bid for a Spread Product and an Offer for that Spread Product match in accordance with clause 13.1.2 and are accepted in accordance with clause 13.5.3: (a) a Transaction is formed in respect of the Premium Product in which the Trading Participant that submitted the Bid for the Spread Product is the Buyer and the Trading Participant that submitted the Offer for the Spread Product is the Seller and the Delivery Point is the applicable Default Premium Product Delivery Point; (b) a Transaction is formed in respect of the Base Product in which the Trading Participant that submitted the Offer for the Spread Product is the Buyer and the Trading Participant that submitted the Bid for the Spread Product is the Seller and the Delivery Point is the applicable Default Base Product Delivery Point; and (c) in each case, the Price is determined in accordance with clause 13.5.4 using the Spread Product Price determined under clause 13.5.3.

Forming Transactions from Spread Products. Where a Bid for a Spread Product and an Offer for that Spread Product match in accordance with clause 13.1.2 and are accepted in accordance with clause 13.5.313.7.3: (a) a Transaction is formed in respect of the Premium Product in which the Trading Participant that submitted the Bid for the Spread Product is the Buyer and the Trading Participant that submitted the Offer for the Spread Product is the Seller and the Delivery Point is the applicable Default Premium Product Delivery Point; (b) a Transaction is formed in respect of the Base Product in which the Trading Participant that submitted the Offer for the Spread Product is the Buyer and the Trading Participant that submitted the Bid for the Spread Product is the Seller and the Delivery Point is the applicable Default Base Product Delivery Point; and (c) in each case, the Price is determined in accordance with clause 13.5.4 13.6.4 using the Spread Product Price determined under clause 13.5.313.6.3.

Forming Transactions from Spread Products. Where a Bid for a Spread Product and an Offer for that Spread Product match in accordance with clause 13.1.2 and are accepted in accordance with clause 13.5.313.6.3: (a) a Transaction is formed in respect of the Premium Product in which the Trading Participant that submitted the Bid for the Spread Product is the Buyer and the Trading Participant that submitted the Offer for the Spread Product is the Seller and the Delivery Point is the applicable Default Premium Product Delivery Point; (b) a Transaction is formed in respect of the Base Product in which the Trading Participant that submitted the Offer for the Spread Product is the Buyer and the Trading Participant that submitted the Bid for the Spread Product is the Seller and the Delivery Point is the applicable Default Base Product Delivery Point; and (c) in each case, the Price is determined in accordance with clause 13.5.4 13.6.4 using the Spread Product Price determined under clause 13.5.313.6.3.

Forming Transactions from Spread Products. ‌ Where a Bid for a Spread Product and an Offer for that Spread Product match in accordance with clause 13.1.2 and are accepted in accordance with clause 13.5.3: (a) a Transaction is formed in respect of the Premium Product in which the Trading Participant that submitted the Bid for the Spread Product is the Buyer and the Trading Participant that submitted the Offer for the Spread Product is the Seller and the Delivery Point is the applicable Default Premium Product Delivery Point; (b) a Transaction is formed in respect of the Base Product in which the Trading Participant that submitted the Offer for the Spread Product is the Buyer and the Trading Participant that submitted the Bid for the Spread Product is the Seller and the Delivery Point is the applicable Default Base Product Delivery Point; and (c) in each case, the Price is determined in accordance with clause 13.5.4 using the Spread Product Price determined under clause 13.5.3.