Portfolio Reconciliation. (i) The parties agree to reconcile Portfolio Data in accordance with Part I(1) of the attachment to the 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol published on 19 July 2013 by the International Swaps and Derivatives Association, Inc. (the “Protocol”) as though such Part and associated definitions were set out in this Agreement. For these purposes:
(A) Party A is a Portfolio Data Sending Entity and Party B is a Portfolio Data Receiving Entity.
(B) Party B has appointed the Agent to perform portfolio reconciliation services on behalf of Party B.
(C) The Local Business Day for such purposes in relation to Party A and Party B is London.
(D) The following are the applicable email addresses: Portfolio Data: Party A: xxxxxxxxxxxxxxxxxxxx@xxxxxxxxxxx.xxx Party B: xxxxxxxxxxxxxxxxxxxx@xxxxxxxxxxx.xxx or to such other address as otherwise agreed between the parties Agent: xxxxxxxxxxxxxxxxxxxx@xxxxxxxxxxx.xxx Notice of discrepancy: Party A: xxxxxxxxxxxxxxxxxxxx@xxxxxxxxxxx.xxx Party B: xxxxxxxxxxxxxxxxxxxx@xxxxxxxxxxx.xxx or to such other address as otherwise agreed between the parties Agent: xxxxxxxxxxxxxxxxxxxx@xxxxxxxxxxx.xxx
Portfolio Reconciliation. 10.3.1 The parties agree to reconcile portfolios as required by the CMA. INGOT Brokers shall provide you with portfolio data and general account information through the Platforms or a secure website. Account information shall include transaction data, ticket numbers, rates, margin, profit and loss statements and any other information required by the Conduct of Business Regulations (“Confirmations”).
10.3.2 Account information shall be updated within twenty-four hours of any activity on your account. You acknowledge and accept that the posting of Confirmations will be deemed delivery of trading Confirmations by INGOT Brokers to you. You may request receipt of the Confirmations at any time in hard copy or email by submitting a written request to xxxxxxxxxxxxxxx@xxxxxxxxxxxxxxxxxx.xxx. Such Confirmations shall be binding on you, unless subject to a manifest error or unless you notify INGOT Brokers of your complaint regarding the Confirmations. Any complaints regarding Confirmations shall be dealt with fairly and promptly in line with the regulations and internal policies and procedures.
10.3.3 You can generate daily, monthly and yearly reports of your account through the Platforms or a secure website. The provision of such information coupled with your ability to generate such reports will be deemed delivery of account statements by INGOT Brokers to you.
10.3.4 You must generate an Account Statement at least once a month, to be done on the first day of each month for the preceding month and to perform data reconciliation in accordance with your portfolio reconciliation requirements.
10.3.5 You may request at any time your Account Statements in hard copy or via email by submitting a written request to xxxxxxxxxxxxxxx@xxxxxxxxxxxxxxxxxx.xxx.
Portfolio Reconciliation. 7.4.1 The parties agree to reconcile portfolios as required by the risk mitigation techniques stipulated under XXXX. Equiti UK shall provide you with portfolio data and general account information through the Platforms and/or a secure website. Account information shall include transaction data, ticket numbers, rates, margin, profit and loss statements and any other information required by the FCA Rules (“Confirmations”). Account information shall be updated within twenty-four hours of any activity on your account. You acknowledge and accept that the posting of Confirmations will be deemed delivery of trading Confirmations by Equiti UK to you. You may request receipt of the Confirmations at any time in hard copy or email by submitting a written request to xxxx@Xxxxxxxxxxxxx.xxx. Such Confirmations shall be binding on you, unless subject to a manifest error or unless you notify Equiti UK of your rejection of such Confirmation in accordance with the EMIR rules.
7.4.2 In accordance with clause 15, through the Platforms and/or a secure website, you can generate daily, monthly and yearly reports of your account. The provision of such information coupled with your ability to generate such reports will be deemed delivery of account statements by Equiti UK to you. You must generate an Account Statement at least once a month, to be done on the first day of each month for the preceding month and to perform data reconciliation in accordance with your portfolio reconciliation requirements under Article 13 of the Commission Delegated Regulations (EU) No 149/2013 of 19 December 2012. You may request at any time your Account Statements in hard copy or via email by submitting a written request to xxxx@Xxxxxxxxxxxxx.xxx.
Portfolio Reconciliation. (i) The parties agree to reconcile Portfolio Data in accordance with Part I(1) of the attachment to the 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol published on 19 July 2013 by the International Swaps and Derivatives Association, Inc. (the “Protocol”) as though such Part and associated definitions were set out in this Agreement. For these purposes:
(A) The definition of “Adherence Letter” is deleted and references to “Adherence Letter”, “such party’s Adherence Letter” and “Adherence Letter of such party” are deemed to be references to this Part 7(d).
(B) References to “Implementation Date” are deemed to be references to the date of this Agreement.
(C) The definition “Protocol” is deemed to be deleted.
(D) Party A is a Portfolio Data Sending Entity and Party B is a Portfolio Data Receiving Entity.
(E) The Local Business Day for such purposes in relation to Party A and Party B is London.
(F) The following are the applicable email addresses: Notices to Party A: All notices with regard to Portfolio Data and notices of discrepancy under this Agreement shall be sent to Party A at xxxxxxxxxxxxxxxxx@xxxxxxxxxxxxx.xxx or to such other address as otherwise agreed between the parties. Notices to Party B: All notices with regard to Portfolio Data and notices of discrepancy under this Agreement shall be sent to xxxxxxxxxxxxxxxxxxxx@xxxxxxxxxxx.xxx or to such other address as otherwise agreed between the parties.
Portfolio Reconciliation. In order to satisfy the requirements of the European Market Infrastructure Regulation (“EMIR”), the parties have agreed as follows: In order to ensure that the Bank and the Client are in agreement as regards the currently applicable conditions for OTC contracts, the parties will conduct a reconciliation of the portfolio and resolve any disputes arising from this reconciliation in accordance with the “Rules regarding portfolio conciliation and dispute resolution in accordance with EMIR with respect to OTC derivative contracts”, published by the Swedish Securities Dealers Association (SSDA). These rules are attached to these general terms and conditions. A summary of the portfolio shall be supplied to the Client in the email required under the Framework Agreement. Any discrepancy shall be reported to the bank at: XXXXxxxxxxxxXxxxx@xxx.xx. Any failure by either of the parties to implement measures, or any other failure to comply with the requirements of the attached rules, will not be considered to constitute a breach of contract or otherwise give the other party the right to terminate any of the OTC contracts executed pursuant to this agreement.
Portfolio Reconciliation. Party A and Party B agree that, with effect from the date of this Agreement, the terms of the ISDA 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol ("EMIR Port Rec Protocol"), as published by the International Swaps and Derivatives Association, Inc., shall apply to this Agreement as if Party A and Party B had adhered to the EMIR Port Rec Protocol and the Agreement was a Covered Master Agreement, with (1) Party A adhering as a Portfolio Data Sending Entity and a party that may use a Third Party Service Provider, with London specified as the location for its Local Business Days for the purposes of the EMIR Port Rec Protocol, and Portfolio Data, Notice of a discrepancy, and Dispute Notices sent to XXXXXXXXXX@Xxxxxxxxx.xxx (as may be updated from time to time); and (2) Party B adhering as a Portfolio Data Receiving Entity with London specified as the location for its Local Business Days for the purposes of the EMIR Port Rec Protocol, and Portfolio Data, Notice of a discrepancy, and Dispute Notices sent to the details provided in Part 4(a) of the Agreement. For the avoidance of doubt, the Trustee is not and shall not be under any obligation in connection with the application of the EMIR Port Rec Protocol between Party A and Party B and all references therein to "the parties" and similar expressions shall be to Party A and Party B.
Portfolio Reconciliation. We make available a daily statement of all your trading activity and cash movements either by email and/or on the Back-Office Portal. This information is binding on you unless you prove the statement to be incorrect. Please therefore ensure that you use this statement to check against your own records regularly and inform us immediately if you believe anything to be incorrect.
Portfolio Reconciliation. 3.1 Agreement to reconcile The Client agrees to reconcile its portfolio of outstanding OTC derivatives transactions with DNB to be compliant with EU regulations (Article 13 of Chapter VIII of the Standards) DNB will send reconciliation data to the Client by emailing an excel file. If the Client finds any discrepancies which it believes are material it shall notify the Bank (by e-mail to emir-reconciliation@dnb. no), as soon as reasonably possible and no later than within five (5) business days. The frequency of the reconciliation will depend on the Client’s classification and number of contracts with DNB. If the Client is an NFC- the parties will reconcile 1) quarterly, or 2) annually if the parties have 1) 100 or more, or 2) 99 or less outstanding transactions, respectively. If the Client is an NFC+ or FC reconciliation will be more frequent, as set out in the EMIR regulations. If not otherwise agreed, the reconciliation dates shall be 1) in the case of weekly reconciliation: each Monday, 2) in the case of quarterly reconciliation: The last business day of March, June, September and December, and 3) in the case of annual reconciliation: the last business day of December.
3.2 Dispute resolution Should there be any disagreement regarding one or more contracts the Client shall inform DNB in writing (by e-mail to xxxx-xxxxxxxxxxxxxx@xxx.xx) about the discrepancy. The parties will consult with each other in an attempt to resolve such discrepancies in a timely fashion for so long as such discrepancies remain outstanding. If there are any disputes relating to the recognition or valuation of a transaction either party may notify the other of such dispute. The parties shall consult in good faith and in accordance with prevailing market practice in an attempt to resolve the dispute in a timely manner, including, without limitation, by exchanging any relevant information. If the parties have entered into an ISDA Master Agreement, the parties may also take any dispute resolution measures agreed therein. If the parties' agreement does not contain any dispute resolution regime or such regime is agreed to be unsuitable, the parties shall determine and apply a resolution method for the dispute. If any dispute is not resolved within five (5) business days each party will, in addition to the abovementioned procedures, refer issues internally to appropriately senior members of staff of such party or, if relevant, of its affiliate, advisor or agent. Each party agrees that it...
Portfolio Reconciliation. 3.1 The Portfolio Reconciliation will be conducted as follows:
a) On each Data Delivery Date, the Sending Party will provide Portfolio Data to the other Party, provided that, for these purposes, both Parties may be Sending Parties;
b) On each PR Due Date, the Party receiving the Portfolio Data will perform a Portfolio Reconciliation;
c) If the Reconciling Party identifies one or more discrepan- cies between the Portfolio Data and its own books and rec- ords of the Relevant Transactions, which such Party quali- fies, acting reasonably and in good faith, as material to the rights and obligations of the Parties under the Relevant Transactions, it will inform the other Party as soon as prac- ticable;
d) In a case of c) above, the Parties will discuss this with each other and work towards resolving such discrepancies as soon as practicable; and
e) Unless the Reconciling Party informs the other Party by 4 p.m. (Zurich) on the fifth Banking Day following the later of the PR Due Date and the date on which Portfolio Data was provided by such other Party, of any contradictions or dis- crepancies pursuant to c), the Reconciling Party shall be deemed to have affirmed such Portfolio Data.
3.2 If the Parties engage a third-party service provider for the performance of the Portfolio Reconciliation, the procedures of such service provider, as mentioned in Annex 1, D, shall apply instead of the provisions of Section 3.1, provided that the Parties may agree on a different method how to per- form the Portfolio Reconciliation.
3.3 If a Party believes that the Parties are required to perform a Portfolio Reconciliation at a greater or lesser frequency than that being used by the Parties at such time, it will no- tify the other Party accordingly. Such a change is deemed to have been agreed upon, if the Party that receives the re- quest does not object within five Banking Days.
Portfolio Reconciliation. 33.1 Portfolio reconciliation refers to the process of reducing or eliminating the size of over the counter (OTC) derivative positions by terminating offsetting trades and replacing them with smaller netted trades.
33.2 Section 9 of the FMA Conduct Standard 2 of 2018 mandates IFX to establish agreements for transaction reconciliation. Both parties, IFX and the Client, agree that IFX will act as the Data Sending Entity while the Client will assume the role of the Data Receiving Entity.
33.3 It is important to emphasize that client positions are segregated and ring-fenced in their respective individual accounts. The trading or positioning of one client will not impact another client in any way.
33.4 The positions, equity, and margin utilization in each individual trading account solely reflect the trading activity of that specific account.
33.5 By starting with segregated client positions, the Company can effectively manage risk and optimize trading activity on their platform. This is achieved by allowing the notional exposures of individual clients to offset each other in real-time, impacting all trades.
33.6 The Company does not limit the netting of trades to specific thresholds. Instead, trades are continuously netted as they are placed to avoid processing delays and mitigate additional risks.
