FTX - Settlement Event

An FTX Chapter 11 Prediction Market Contract would be settled on our calculation of the Index Value resulting from the Settlement Event upon the occurrence of a Settlement Event.

“Settlement Event” means the calculation as a percentage of the aggregate final stated return to holders of Customer Claims (interim or otherwise and in whole or in part) as ordered by the United States Bankruptcy Court for the District of Delaware pursuant to the Bankruptcy Proceedings (including in the event that such Court orders such payouts to be made as a condition to the (re)launch of the FTX trading platform), or such other equivalent event as may be determined by HDR should the above process be amended or replaced.

“Index Value” means the calculation resulting from the Settlement Event if available or should the Settlement Event not have occurred, any percentage of return that may have already been finalised (as determined by HDR) or otherwise 0%.

“Bankruptcy Proceedings” means case No. 22-11068 (JTD) (In re: FTX Trading Ltd., et al.) in the United States Bankruptcy Court for the District of Delaware.

“Customer Claims” has the meaning ascribed to such capitalised term in the Customer Bar Date Order dated 28 June 2023 (here).

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