Recomposition Period definition

Recomposition Period means each period from (and including) the second Index Business Day in a month (other than November) to (and including) the sixth Index Business Day in such month Provided That if in respect of any Index Commodity (each a “Disrupted Recomposition Index Commodity”) the last Index Business Day of a Recomposition Period is not a Valid Date, the Recomposition Period for such Disrupted Recomposition Index Commodity only, subject to paragraph 10 (Index Disruption Event), shall be extended to and including the next occurring Valid Date for such Disrupted Recomposition Index Commodity. In the event that a Recomposition Period in respect of an Index Commodity is extended as provided above, the Existing Instrument Amount and the New Instrument Percentage for such Index Commodity for the final Valid Date in such Recomposition Period shall be zero and 100 per cent., respectively.
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Recomposition Period means, in respect of an Index Commodity, each period from (and including) the second Index Business Day in a month to (and including) the sixth Index Business Day in such month. For the avoidance of doubt, a Recomposition Period shall include any relevant Index Business Day that is a Disrupted Day in respect of such Index Commodity.
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Recomposition Period and “Rebalancing Period”, this replacement takes place over a period in order to lessen the impact on the market for futures contracts. Recomposition occurs monthly (other than in November) during a Recomposition Period in the case of futures contracts relating to Crude Oil and Heating Oil. Rebalancing occurs annually in November during a Rebalancing Period in the case of Exchange Traded Instruments relating to all Index Commodities, including Crude Oil and Heating Oil. Replacement of futures contract for Aluminum, Gold, Corn and Wheat occurs when DBLCI is annually rebalanced. The DBLCI is balanced during the Rebalancing Period to rebalance its composition to the Index Base Weights. The composition of the DBLCI may be adjusted in the event of an Index Disruption Event occurring (see paragraph 11 ( Index Disruption Event) below). The DBLCI has been calculated back to a Base Date (the “Base Date”) of 1st December, 1988. On the Base Date the ER Closing Level was 100.
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Examples of Recomposition Period in a sentence

  • The ER Calculation Value in respect of Crude Oil and Heating Oil on any Index Business Day during a Recomposition Period is determined as provided in paragraph 7 (Recomposition Periods) and the ER Calculation Value in respect of each Index Commodity on any Index Business Day during a Rebalancing Period is determined as provided in paragraph 8 (Rebalancing Periods).

  • The ER Calculation Value in respect of each Index Commodity on an Index Business Day is determined (a) as provided in paragraph 6 (ER Calculation Values) or (b) in the case of Crude Oil and Heating Oil, where the relevant Index Business Day falls during a Recomposition Period, as provided in paragraph 7 (Recomposition Periods) or (c) where the relevant Index Business Day falls during a Rebalancing Period, as provided in paragraph 8 (Rebalancing Periods).

  • Recomposition occurs monthly (other than in November) during a Recomposition Period in the case of futures contracts relating to Crude Oil and Heating Oil.


More Definitions of Recomposition Period

Recomposition Period has the meaning set forth in Section 4.3.
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