Dow +ve : BOOMED

[Moscow Mule]

From the "Plain English Summary": (PDF alert)

The Protocol excludes any Transaction for which the Deliverable Obligations specifically listed in the Protocol would not be considered Deliverable Obligations. This would include but not be limited to Reference Obligation Only Transactions, Loan Only Transactions, Preferred CDS Transactions and Fixed Recovery Transactions.

If that's their idea of Plain English, no wonder we're all fscked

What do you mean - it's perfectly clear

Each Participating Bidder whose Limit Bid or Inside Market Bid (or Limit Offer or Inside Market Offer if applicable) is matched against the Open Interest, and each Participating Bidder that submitted a Customer Physical Settlement Request or Dealer Physical Settlement Request, is deemed to have entered into a Representative Auction-Settled Transaction (RAST), and each customer that submitted such a Limit Bid, Limit Offer, or Physical Settlement Request is deemed to have entered into a RAST with the Dealer through whom the customer submitted such bid or offer. Accordingly, each such Participating Bidder or customer that is a seller of Deliverable Obligations pursuant to a trade formed in the auction must deliver by 4:00 p.m. on October 15, 2008 to the buyer to whom such Participating Bidder or customer has been matched a Notice of Physical Settlement indicating the Deliverable Obligations that it will deliver, and such Deliverable Obligations will be sold to the buyer in exchange for payment of the Final Price determined in the Auction on October 10, 2008. If the seller of Deliverable Obligations fails to deliver the Deliverable Obligations specified in the Notice of Physical Settlement, the buyer of Deliverable Obligations will have the applicable remedies set forth in the Credit Derivatives Definitions, as modified by the Protocol.

[ace00]

Boom over. Normal service is resumed.

All your asset are worthless.