NASDAQ OMX Derivatives Markets will, as of June 15, 2009, change the adjustment rules regarding dividends. At present an adjustment will be made if an ordinary dividend exceeds 10 % of the Volume Weighted Average Price (VWAP) on the day preceding the ex-day. Following such a dividend stock options and forwards are adjusted for the part of the dividend that exceeds 10 % of the VWAP.
As of June 15, 2009 NASDAQ OMX Derivatives Markets will remove this rule and will only adjust for distributions that are declared by the company, which shares constitute the contract base, to be additional or non-regular.
The updated rule 4.5.3.6 is attached this notice.
For further information, please see the attached document.
