CHARGES FOR FAILURES TO DELIVER US TREASURY SECURITIES. 5.1. The Treasury Markets Practice Group ("TMPG") and the Securities Industry and Financial Markets Association ("SIFMA") have published a “U.S. Treasury Securities Fails Charge Trading Practice” (the "Fails Charge Trading Practice")∗. This provides a standardised procedure to assess and pay Fails Charges (as defined therein) in connection with delivery failures involving Treasuries (as defined therein). The process has been introduced to reduce the overall incidence of fails in the marketplace, which prevent efficient market clearing and undermine overall market liquidity, and to compensate a non-failing counterparty.
Appears in 6 contracts
Samples: Professional Client Agreement, Professional Client Agreement, Professional Client Agreement
CHARGES FOR FAILURES TO DELIVER US TREASURY SECURITIES. 5.1. The Treasury Markets Practice Group ("TMPG") and the Securities Industry and Financial Markets Association ("SIFMA") have published a “U.S. Treasury Securities Fails Charge Trading Practice” (the "Fails Charge Trading Practice")∗. Practice").∗ This provides a standardised procedure to assess and pay Fails Charges (as defined therein) in connection with delivery failures involving Treasuries (as defined therein). The process has been introduced to reduce the overall incidence of fails in the marketplace, which prevent efficient market clearing and undermine overall market liquidity, and to compensate a non-failing counterparty.
Appears in 4 contracts
Samples: Eligible Counterparty Agreement, Eligible Counterparty Agreement, Eligible Counterparty Agreement
CHARGES FOR FAILURES TO DELIVER US TREASURY SECURITIES. 5.1. The Treasury Markets Practice Group ("TMPG") and the Securities Industry and Financial Markets Association ("SIFMA") have published a “U.S. Treasury Securities Fails Charge Trading Practice” (the "Fails Charge Trading Practice")∗. Practice"). This provides a standardised procedure to assess and pay Fails Charges (as defined therein) in connection with delivery failures involving Treasuries (as defined therein). The process has been introduced to reduce the overall incidence of fails in the marketplace, which prevent efficient market clearing and undermine overall market liquidity, and to compensate a non-failing counterparty.
Appears in 2 contracts
Samples: Professional Client Agreement, Professional Client Agreement
CHARGES FOR FAILURES TO DELIVER US TREASURY SECURITIES. 5.1. The Treasury Markets Practice Group ("TMPG") and the Securities Industry and Financial Markets Association ("SIFMA") have published a “U.S. Treasury Securities Fails Charge Trading Practice” (the "Fails Charge Trading Practice")∗. Practice"). This provides a standardised procedure to assess and pay Fails Charges (as defined therein) in connection with delivery failures involving Treasuries (as defined therein). The process has been introduced to reduce the overall incidence of fails in the marketplace, which prevent efficient market clearing and undermine overall market liquidity, and to compensate a non-failing counterparty.
Appears in 1 contract
Samples: Eligible Counterparty Agreement
