Calculation of Transaction Obligations. To calculate the Transaction Obligations each Participant has due to open Transactions, if any, Zero Hash may use any of the following information: (1) the Compression Run results as calculated by Zero Hash; (2) the Initial Margin requirements as calculated by Zero Hash; (3) index values published by Zero Hash; (4) published settlement price data from each Transaction Platform; and (5) transaction information provided by each Transaction Platform. Zero Hash will report the Transaction Obligations to Participant and to the relevant custodian for capital movements, and, depending on the particular Transaction, Initial Margin may be transferred directly to (from) Participant's Available Account from (to) Participant's Collateral Account, increasing (decreasing) Available Account for Participant. Variation Margin and Final Settlement may be transferred directly to (from) Participant's Available Account from (to) Counterparty's Available Account, increasing (decreasing) the Available Account for Participant. Zero Hash will display the Transaction Obligations owed by or to Participant daily via the Zero Hash System. Zero Hash may instruct the Depository Institution, as identified below in Description of Fiat Currency Custodian Services, to convert any Initial Margin currency into additional currencies different from the Settlement Currency for a particular Contract.
Appears in 4 contracts
Samples: Services Agreement, Services Agreement, Services Agreement
