Clearing FCM definition

Clearing FCM means, initially, Xxxxxxx, Xxxxx & Co., or any other futures commission merchant(s) appointed by the Manager as clearing futures commission merchant(s) for the Investing Pool.
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Examples of Clearing FCM in a sentence

  • The Manager shall appoint one or more Futures Commission Merchants to act on its behalf to hold, establish or dispose of long positions in CERFs. The Manager shall also appoint one or more clearing futures commission merchants to act as a Clearing FCM for the Investing Pool.

  • The Advisor acknowledges that it is expected that the Trust will not enter into an otherwise eligible transaction if, immediately after entering into such transaction, the Trust’s maximum probable Net Credit Exposure to any single counterparty (other than a regulated commodities exchange, the Clearing FCM or any clearing facility thereof) would exceed 10% of the most recently determined net asset value of the Trust.

  • The Trust has appointed State Street Bank and Trust Company, as custodian (the "Custodian"), and Xxxxxxx, Xxxxx & Co., as clearing futures commission merchant (the "Clearing FCM"), for the Accounts.

  • The Authorized Participant understands and agrees that in the event Basket Constituents are not transferred to or as directed by the Trustee by the time specified in the Purchase Order and in compliance with the Procedures and the Trust Agreement, a Purchase Order may be cancelled by the Creation and Redemption Agent and the Authorized Participant will be solely responsible for all costs incurred by the Trust, the Trustee or the Clearing FCM related to the cancelled Order.

  • The Manager shall also appoint one or more clearing futures commission merchants to act as a Clearing FCM for the Investing Pool.

  • Client agrees to reimburse the Clearing FCM from Client’s Account held at the Clearing FCM.

  • The phone lines used by the Trustee, the Creation and Redemption Agent, the Clearing FCM or their affiliated persons may be recorded, and the Authorized Participant hereby consents to the recording of all calls with any of those parties.

  • Client understands that the Executing Broker will charge fees for the give-up orders to the Clearing FCM.

  • The Manager shall appoint one or more Futures Commission Merchants to act on its behalf to hold, establish or dispose of long positions in CERFs. The Manager may also appoint one or more clearing futures commission merchants to act as a Clearing FCM for the Company.

  • The Clearing FCM will act as the carrying broker and will carry these positions.

Related to Clearing FCM

  • 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”);

  • Clearing System means Monte Titoli S.p.A., with offices in Piazza degli Affari no. 6, Milan, Italy ("Monte Titoli").

  • Clearing means the clearing and removal of vegetation, whether partially or in whole, including trees and shrubs, as specified;

  • Clearing Bank means the Bank or any other banking institution with whom a Payment Account has been established pursuant to a Blocked Account Agreement.

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

  • Clearing Systems means, in relation to a Series of Securities, any of Euroclear, Clearstream, Luxembourg and DTC, as the case may be, and includes any additional or alternative clearing systems specified in the Issue Terms.

  • Clearing Firm means an entity that meets the requirements of clearing membership at a Clearing House that clears Trades in any or all of the MarketAxess SEF Swaps and is authorized to submit Trades for clearing to the Clearing House.

  • Foreign Clearing Agency means Clearstream and the Euroclear Operator.

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

  • Clearing Agency means an organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act.

  • central securities depository or ‘CSD’ means a central securities depository as defined in point (1) of Article 2(1) of Regulation (EU) No 909/2014.

  • Clearing Rules means SGX-DC Clearing Rules as amended or supplemented from time to time;

  • 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.

  • Clearing Corporation The meaning specified in Section 8-102(a)(5) of the UCC.

  • Clearing Agreement means Clearing, Settlement and Sponsorship Services Agreement by and between the Borrower and Fifth Third Bank dated as of June 30, 2009, as the same may be amended, modified, supplemented, restated or amended and restated from time to time.

  • Clearing Organization means (a) The Depository Trust Company, or, if agreed to by Borrower and Lender, such other “securities intermediary” (within the meaning of the UCC) at which Borrower (or Borrower’s agent) and Lender (or Lender’s agent) maintain accounts, or (b) a Federal Reserve Bank, to the extent that it maintains a book-entry system.

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

  • Clearing Corporation Security means securities which are in the custody of or maintained on the books of a Clearing Corporation or a nominee subject to the control of a Clearing Corporation and, if they are Certificated Securities in registered form, properly endorsed to or registered in the name of the Clearing Corporation or such nominee.

  • Clearing System Business Day means in relation to an Index, any day on which the principal domestic clearing systems customarily used for settling trades in securities comprising such Index is (or, but for the occurrence of an event beyond the control of the Company or the Hedging Counterparty as a result of which such clearing system cannot clear the transfer of such securities, would have been) open for the acceptance and execution of settlement instructions.

  • Securities Depository means The Depository Trust Company and any other clearing agency registered with the SEC under Section 17A of the Securities Exchange Act of 1934, as amended (the “1934 Act”), which acts as a system for the central handling of Securities where all Securities of any particular class or series of an issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of the Securities.

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Foreign Securities Depository means a foreign securities clearing system qualifying as an Eligible Securities Depository (as defined in Section (b)(1) of Rule 17f-7 under the 0000 Xxx) that is listed on Schedule B annexed hereto, as amended from time to time pursuant to Section 4.5 hereof.

  • Foreign Depository means (a) Euroclear, (b) Clearstream Banking, societe anonyme, (c) each Eligible Securities Depository as defined in Rule 17f-7 under the Investment Company Act of 1940, as amended, identified to the Fund from time to time, and (d) the respective successors and nominees of the foregoing.

  • Eligible Securities Depository has the meaning set forth in section (b)(1) of Rule 17f-7.

  • Securities Depository Nominee means, as to any Securities Depository, such Securities Depository or the nominee of such Securities Depository in whose name there shall be registered on the registration books maintained by any Registrar the Bond certificates to be delivered to and immobilized at such Securities Depository during the continuation with such Securities Depository of participation in its book-entry system.