Option Class definition
Examples of Option Class in a sentence
The System will maintain a counting program ("EEM Counting Program") for each participating EEM who has submitted an order in an EEM Specified Option Class using a specified MPID of the EEM and delivered via the MEO Interface as described herein (an “EEM ARM Eligible Order”).
The EEM may also establish for each EEM Specified Option Class an EEM Allowable Engagement Percentage.
The System will engage the Aggregate Risk Manager for EEMs (“ARM-E”) in a particular EEM Specified Option Class when the EEM Counting Program has determined that an EEM has executed during the EEM Specified Time Period a number of EEM ARM Contracts from an EEM ARM Eligible Order equal to or above their EEM Allowable Engagement Percentage.
The Market Maker may also establish for each MM Option Class an MM Allowable Engagement Percentage.
ARM-E will then, until the EEM sends a notification to the System of the intent to reengage and submits a new order in the EEM Specified Option Class: (i) automatically cancel the EEM ARM Eligible Orders in all series of that particular EEM Specified Option Class and (ii) reject new EEM ARM Eligible Orders by the EEM in all series of that particular EEM Specified Option Class submitted using the MEO Interface.
The System will engage the Aggregate Risk Manager for Market Makers (“ARM- M”) in a particular MM Option Class when the MM Counting Program has determined that a Market Maker has executed during the MM Specified Time Period a number of MM ARM Contracts from an MM ARM Eligible Order equal to or above their MM Allowable Engagement Percentage.
ARM-M will then, until the Market Maker sends a notification to the System of the intent to reengage and submits a new order in the MM Option Class: (i) automatically cancel the MM ARM Eligible Orders in all series of that particular MM Option Class and (ii) reject new MM ARM Eligible Orders by the Market Maker in all series of that particular MM Option Class submitted using the MEO Interface.
The Authorized Officer may designate Grantees, the Option Class, and the number of shares subject to each Option by any objectively determinable description.
In lieu of the delivery of physical certificates, an Optionee may deliver shares in payment of the Exercise Price by attesting, on a form established by the Corporate Secretary, to the ownership, either outright or through ownership of a broker account, of a sufficient number of Seasoned Shares of the Option Class to pay the Exercise Price.
The Committee may designate Grantees, the Option Class, and the number of shares subject to each Option by any objectively determinable description.