PIB A5.8.14

An Authorised Firm must calculate the net Underwriting Exposure to an Issuer by applying the relevant reduction factors in the table below to its net Underwriting position calculated under PIB Rule A5.8.6.

Time Reduction factor to be applied to net underwriting position
Initial commitment to working day 0 100%
Working day 0 100%
Working day 1 90%
Working day 2 75%
Working day 3 75%
Working day 4 50%
Working day 5 25%
Working day 6 onwards 0%
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]