Carrying FCM Clearing Member definition

Carrying FCM Clearing Member means an FCM Clearing Member carrying an account for a Client, and in respect of which the Contracts and Collateral attributable to such account may be transferred to a Receiving FCM Clearing Member pursuant to Regulation 108 and in accordance with the Procedures.
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Examples of Carrying FCM Clearing Member in a sentence

  • In the event that the Carrying FCM Clearing Member fails to notify the Clearing House of the Account Assets that are attributable to the relevant FCM Client, the Clearing House shall transfer such collateral as it deems appropriate and as set out in the FCM Procedures.

  • Furthermore, and for the avoidance of doubt, the Carrying FCM Clearing Member shall have no right or entitlement to assert any claim over, or right with respect to, the Account Assets transferred.

  • In order to facilitate a transfer pursuant to paragraph (a) above that includes the transfer of Porting Collateral, the Carrying FCM Clearing Member shall notify the Clearing House of the specific Collateral which should constitute the Porting Collateral.

  • Upon completion of the transfer, the Account Assets deposited with or transferred to the Clearing House by the Carrying FCM Clearing Member and held by the Clearing House in respect of the FCM SwapClear Contracts that are being transferred shall, without limitation, be deemed to have been delivered by the Receiving FCM Clearing Member to the Clearing House and subject to the security interest granted by the Receiving FCM Clearing Member pursuant to FCM Regulation 10(n).

  • Furthermore, and for the avoidance of doubt, the Carrying FCM Clearing Member shall have no right or entitlement to assert any claim over, or right with respect to, the Porting Collateral transferred.

  • In the event that the Carrying FCM Clearing Member fails to notify the Clearing House of the specific Collateral which should constitute the Porting Collateral, the Clearing House shall identify and select (in the manner set out in the Procedures) the Collateral it deems appropriate.

  • Upon completion of the transfer, the Porting Collateral deposited with or transferred to the Clearing House by the Carrying FCM Clearing Member and held by the Clearing House in respect of the Porting Contracts shall, without limitation, be deemed to have been delivered by the Receiving FCM Clearing Member to the Clearing House and subject to the security interest granted by the Receiving FCM Clearing Member pursuant to Regulation 109(n) and pursuant to its Clearing Membership Agreement.

  • The Clearing House shall verify that the Porting Contracts identified to it by the applicable FCM Clearing Member as being the subject of such a transfer correspond to Contracts which, according to its records, are registered in the name of the Carrying FCM Clearing Member on behalf of the relevant Client.

  • For purposes of (v) above, with respect to obligations owed to Affiliates of the Carrying FCM Clearing Member by an FCM Client, “obligations” shall consist only of those obligations that arise as a result of cross-margining, cross- netting or other similar arrangements with respect to the FCM SwapClear Contracts being transferred or the FCM Client‟s related collateral.

  • A Receiving FCM Clearing Member may, upon the instruction or at the request of a Client, request (in the manner set out in the Procedures) that the Clearing House transfer to the Receiving FCM Clearing Member some or all of a Client’s Contracts registered to its Client Sub-Account with a Carrying FCM Clearing Member (such Contracts subject to transfer, the “Porting Contracts”).

Related to Carrying FCM Clearing Member

  • Clearing Member means a registered broker-dealer which is a clearing member under the rules of O.C.C. and a member of a national securities exchange qualified to act as a custodian for an investment company, or any broker-dealer reasonably believed by the Custodian to be such a clearing member.

  • Trading Member means a Person who has been approved by Nadex to trade directly and not through a FCM Member on the Market, and does not include any FCM Member.

  • Recognised Clearing System means any clearing system listed in Section 246A of the Taxes Act (including, but not limited to, Euroclear, Clearstream Banking AG, Clearstream Banking SA and CREST) or any other system for clearing shares which is designated for the purposes of Chapter 1A in Part 27 of the Taxes Act, by the Irish Revenue Commissioners, as a recognised clearing system.

  • Exchanging Member means a Member that Exchanges some or all of its Units.

  • Foreign Clearing Agency means Clearstream and the Euroclear Operator.

  • Relevant Clearing System means (i) Euroclear, (ii) Clearstream, Luxembourg, or (iii) any other recognised clearing system in which ETP Securities of a Series may be cleared.

  • Trading Partner means an entity that has registered with the Commission to exchange data through Electronic Data Interchange.

  • Clearing Participant means a person admitted as a participant under the Clearing Rules.

  • Restricted Global Security As defined in Section 3.01(c).

  • Clearing Account has the meaning set forth in Section 2.7.1 hereof.

  • Clearing Agent means Clearstream Banking AG, Euroclear Bank S.A., and Clearstream Banking S.A. and such further or alternative clearing agent(s) or clearance system(s) as may be approved by the Issuer from time to time and notified to the Holders in accordance with General Condition 4 (each a “Clearing Agent” and together the “Clearing Agents”);

  • Unrestricted Global Security means a Global Security that is not a Restricted Security.

  • Regulation S Permanent Global Security with respect to any series of Securities, means one or more permanent Global Securities bearing the Private Placement Legend, that will be issued in an aggregate amount of denominations equal in total to the outstanding principal amount of the Securities of such series initially sold or, if required by Rule 903 of Regulation S, of the Regulation S Temporary Global Security of such series upon expiration of the Distribution Compliance Period with respect to such series, as the case may be.

  • Exchanging Partner has the meaning set forth in Section 2.1 hereof.

  • Principal Member means the person who signs the application and is responsible for the payment of premiums.

  • Capacity Resource Clearing Price means the price calculated for a Capacity Resource that offered and cleared in a Base Residual Auction or Incremental Auction, in accordance with Tariff, Attachment DD, section 5.

  • Deposit Holder means _________ (state name and location of Deposit Holder) or, if left blank, the Sellers' Bank, which shall hold and release the Deposit in accordance with this Agreement.

  • Managing Member means CEF Equipment Holding, L.L.C., a Delaware limited liability company or any successor Managing Member under the Issuer Limited Liability Company Agreement.

  • Depository Participant A broker, dealer, bank or other financial institution or other Person for whom from time to time a Depository effects book-entry transfers and pledges of securities deposited with the Depository.

  • European Clearing Systems means, collectively, Clearstream, Luxembourg and Euroclear.

  • Controlling ownership interest means ownership of or entitlement to more than twenty-five percent of shares or capital or profits of the company;

  • Transferring Member has the meaning set forth in Section 9.4.

  • Trading Account means the unique personified register of all completed transactions, open positions, orders and nontrading operations on the trading platform.

  • Escrow Paying Agent Means the Person acting as paying agent under the Escrow Agreement.