This document outlines the procedures and consequences related to the failure of delivering securities in a transaction. It specifies how the Default Market Value is calculated, including transaction costs and interest related to deposits with the Bank of Italy. It also describes the process for adjusting transactions when a buyer fails to deliver equivalent securities, including the termination of the original transaction and the creation of a replacement transaction with specified terms. Additionally, it addresses the scenario where only part of the equivalent securities are delivered, allowing the seller to terminate the transaction.
documents/EFTA01390606.pdf
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