Examples of Deliverable Obligation(s in a sentence
In such capacity, it may take certain actions which may influence the Auction Final Price including (without limitation): (a) providing rates of conversion to determine the applicable currency conversion rates to be used to convert any obligations which are not denominated in the auction currency into such currency for the purposes of the auction; and (b) submitting bids, offers and physical settlement requests with respect to the relevant Deliverable Obligations.
The steps described in Section 7(a) of these Credit Derivatives Auction Settlement Terms are illustrated in the following example (which is not intended to reflect indicative prices for the Deliverable Obligations): Step 1 – Consider only Tradeable Markets.
If the Open Interest is an offer to sell Deliverable Obligations, the Open Interest will be matched against the Unmatched Limit Orders that are Bids.
If the Open Interest is a bid to purchase Deliverable Obligations, the Open Interest will be matched against the Unmatched Limit Orders that are Offers.
If the Open Interest is an offer to sell Deliverable Obligations, then any Limit Bid that would otherwise be at a price above the Initial Market Midpoint plus the Cap Amount shall be deemed to be at a price equal to the Initial Market Midpoint plus the Cap Amount.