Protocol for Initial Repo Contracts Sample Clauses

Protocol for Initial Repo Contracts. ‌ Steps 1 - 6 of the protocol, which describe the formation of the initial repo contracts, apply to a repo transaction between two agents, Ai and Aj. The remaining steps apply to the resulting flow of objects into and out of a single agent Xx. We suppress from the notation that each agent has its own escrow in the SC into which it sends and from which it receives T and M . The SC moves financial objects between the agent escrows and sends financial objects to agents from their escrows. First-Leg Protocol Contract Formation between i and j 1. Each pair i and j negotiates the terms of their - possibly multiple - first and second-leg repo contracts offline. 2. For each transaction, i and j each send details on their first and second-leg prices and volume j→i of T , {Ti→j, p1 } and {Tj→i, p2 }, to the SC. 3. For each transaction, the SC verifies that the terms sent by i and x. 4. For each transaction, the SC sends two contracts, {C1 , C2 }, to Ai and Aj reflecting the terms. Each contract authorizes the SC to replace it with a netted contract followed by a replacement repo contract . 5. i and j send signed contracts to the SC. 6. The SC aggregates all repo transactions between i and j and replaces the separate repo j→i contracts with a single contracts for each leg {C1 , C2
Sample 1
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Related to Protocol for Initial Repo Contracts

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