Clearing Functions Sample Clauses

Clearing Functions. The clearing functions enable the Customer and their clients to manage position information. These functions are made available via a GUI. This enables back offices to correctly record, report, manage and reconcile their open interest. These functions also provide end users with a number of reports. The functions available are: • Position keeping — the automatic maintenance of positions as post-trade functions are performed • Position search — the ability to review current and historical position data • Settlement instruction entry, edit and search — the management of long and short positions • Position transfer instruction entry, edit and search — the movement of volume between position accounts • Exercise instruction entry, edit and search — nomination of options positions for exercise • Automatic Exercise instruction edit and search — position selection criteria for options expiry processing • Tender Deletion instruction entry, edit and search — manual deletion of positions awaiting delivery Commercial in Confidence • Margin Exclusion Instruction entry, edit and search — manual omission of delivery positions from margin calculation • Delivery instruction entry edit and search — manual early notification of an intention to deliver

Clearing Functions. 5.1 All clearing functions, including order tickets, time stamps, confirmations and statement generation shall be conducted by the Clearing Firm or such other clearing operation (including Web Street, should it become self-clearing) as Web Street may in its sole discretion designate.