Cum Price definition
Cum Price means the last share price on the day before the ex-date. “daily closing price” means the daily settlement price calculated by CC&G.
Cum Price means the last price of the Underlying on the day before the Ex-Day. If the last price is not available or Turquoise considers that the liquidity in the trading of such Underlying is not sufficient, then the Cum price corresponds to its volume weighted average price (“VWAP”) for the relevant period. However, under special circumstances a different type of price may be set by taking into account any other objective element which is available. Turquoise will communicate the type of the price used in the calculation of the Adjustment coefficient (K) before the Ex-Day.