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in the money

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in the money

(1) (in UKLR195) (in relation to 115 securitised derivatives 115 ):52
1. (a) where the holder has the right to buy the underlying instrument or instruments from the issuer, when the settlement price is greater than the exercise price; or52
2. (b) where the holder has the right to sell the underlying instrument or instruments to the issuer, when the exercise price is greater than the settlement price;52
(2) [deleted]184 52

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