Cleared over the counter customer definition

Cleared over the counter customer means any person that is not a propri- etary person as defined in § 1.3(y) and for whom the futures commission mer- chant carries on its books one or more accounts for the over the counter- cleared derivative positions of such person.(c) Definitions: For the purposes of this section:(1) Net capital means the amount by which current assets exceed liabilities. In determining ‘‘net capital’’:
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Cleared over the counter customer means any person for whom the futures commission merchant carries on its books one or more accounts for the cleared over the counter derivative po- sitions of such person, and such ac- count or accounts are not proprietary accounts as defined in § 1.3 of this part.
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Cleared over the counter customer means any person that is not a proprietary person as defined in §1.3(y) and for whom the futures commission merchant carries on its books one or more accounts for the over the counter-cleared derivative positions of such person.
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Related to Cleared over the counter customer

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