Examples of Client Collateral in a sentence
The cost of the associated bid/offer spread and any reasonable out-of-pocket costs and expenses of LCH SA in connection with such auction(s) or any alternative action shall be allocated to the CCM Client Collateral Account or the FCM Client Collateral Account as applicable.
The Contribution Balance is segregated from (x) the Margin Balance for each Margin Account; (y) the Client Collateral Buffer; and (z) the CCM Unallocated Client Collateral, by crediting the Cash Collateral comprising the Contribution Balance to a dedicated LCH SA TARGET2 Account.
When LCH SA receives the confirmation of settlement from Euroclear Bank or Euroclear France, as applicable, LCH SA shall update the relevant CCM Client Collateral Account(s) of the Defaulting Clearing Member to reflect that such Eligible Collateral has been transferred with full title to LCH SA.
The following procedures apply to porting of cash Collateral by a Clearing Member representing Excess Margin in its House Collateral Account to any of its Client Collateral Accounts.
The following procedures apply to porting of non-cash Collateral by a Clearing Member representing Excess Margin in its House Collateral Account to any of its Client Collateral Accounts.
Once a Clearing Member has notified LCH SA of its House Excess Collateral Threshold and/or Client Collateral Buffer Threshold, LCH SA will apply this in the context of each successive Collateral Call, until such time as the relevant Clearing Member notifies LCH SA of an amended House Excess Collateral Threshold and/or Client Collateral Buffer Threshold.
Any collateral value in excess of the required margin value will be recorded in an FCM Unallocated Client Collateral Financial Account prior to the Morning Call held for the benefit of all the Clients in the FCM Client Account Structure.
In the event that the Carrying Clearing Member fails to do so in accordance with the timetable below, LCH SA shall determine (in its sole discretion) the Client Assets that are to be transferred from the Carrying Clearing Member’s relevant CCM Client Collateral Account in the case of a CCM Gross Omnibus Gross Multi Sub-Account Client Set or a CCM Gross Omnibus Single Sub- Account Client and FCM Client Financial Account in the case of an FCM Client.
To set its House Excess Collateral Threshold and/or Client Collateral Buffer Threshold for a Business Day (D), a Clearing Member must notify LCH SA by submitting the form (which is available on the Website) by email at the email address specified in Paragraph 2.1. The form must be received by LCH SA by no later than 12.00 CET on D-1.
Such CCM Client Excess Collateral will be maintained in a CCM Client Collateral Account of a CCM Client Account Structure, in which case it will be used for the novation of Client Trade Legs and taken into account by LCH SA when it calculates the amount of Collateral which is needed for that CCM Client Account Structure, as part of the Notional and Collateral Check (as set out in Paragraph 2.5(b)(i) below).