Clearing Member definition

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 Member means a member of a Clearing House that is authorized to clear trades in any or all Swaps for a Participant or its Accounts or Customers. Each Clearing Member must sign documentation required by BSEF.
Clearing Member means a clearing member as defined in point 14 of Article 2 of Regulation (EU) No 648/2012;

Examples of Clearing Member in a sentence

  • The Custodian shall make deliveries or payments from a Margin Account to the broker, dealer, futures commission merchant or Clearing Member in whose name, or for whose benefit, the account was established as specified in the Margin Account Agreement.

  • The Custodian shall consent to the delivery of the Option sold by the Clearing Member which previously supplied the confirmation described in preceding paragraph 1 of this Article with respect to such Option against payment to the Custodian of the total amount payable to the Fund, provided that the same conforms to the total amount payable as set forth in such Certificate.

  • The Custodian shall, upon receipt of the Securities underlying the Call Option which was exercised, pay out of the moneys held for the account of the Series to which such Call Option was specifically allocated the total amount payable to the Clearing Member through whom the Call Option was exercised, provided that the same conforms to the total amount payable as set forth in such Certificate.

  • Without limiting the generality of the foregoing, the Custodian shall be under no duty to inquire into, and shall not be liable for, the accuracy of any statements or representations contained in any such instrument or other notice including, without limitation, any specification of any amount to be paid to a broker, dealer, futures commission merchant or Clearing Member.

  • Transactions executed for the proprietary account (as such term is defined in CFTC Regulation 1.3(y)) of a Participant, Trading Customer or Clearing Member.


More Definitions of Clearing Member

Clearing Member means an undertaking which participates in a CCP and which is responsible for discharging the financial obligations arising from that participation;
Clearing Member means a member of a Clearing House that is authorised to clear trades in financial instruments for itself or others.
Clearing Member means General Clearing Member or Individual Clearing Member;
Clearing Member means a firm qualified to clear trades through the Clearing House.
Clearing Member means a member of a Clearing House that is authorised to clear Trades in Instruments for a Participant or its Principal.
Clearing Member means a member of a DCO that is authorized to clear Swaps for itself and/or for other Persons.
Clearing Member. : shall mean a legal person admitted to the System