“equityExercise” is of type “EquityExerciseValuationSettlement” and is mainly use for the Valuation and Settlement aspect. This element was designed to support Forwards even though there are no exercises in a Forward, including the European exercise. This may have been done to as Synthetic Forwards can be represented through European Options. If you take a look at the eqf-ex01-forward-stock-long-form.xml example, you’ll see that the choice – the European exercise but then the “expirationDate” is the same as the “valuationDate”. Regards, Irina Yermakova