Examples of Default Management Process in a sentence
The terms and conditions binding on each FCM Clearing Member are set out in the FCM Rulebook (which includes these FCM Procedures), the FCM Clearing Membership Agreement, the FCM Default Management Process Agreement and the FCM Default Fund Agreement, each as amended from time to time.
The Clearing House will treat all Confidential Material in the terms envisaged in Schedule 1 (Confidentiality, non-disclosure and participation in the ForexClear Default Management Group), confining use to the ForexClear Default Management Process, restricting its availability on a "strictly need to know basis", and exercising every duty of care required of it as a Recognised Clearing House and as a Derivatives Clearing Organization.
The Rates Service Default Management Process in respect of Rates Service Clearing House Business, Relevant Auction Contracts in respect of Rates Service Client Clearing Business and FCM SwapClear House Business shall involve the processes described in this Rule 2.
The ForexClear Default Management Process in respect of ForexClear Clearing House Business and FCM ForexClear House Business shall involve the stages described in this Rule 2.
LCH SA may enter into a CDS or an Index Swaption with a Clearing Member for hedging purposes (a "Hedging Transaction") pursuant to Clause 2.1.1 of the CDS Default Management Process.
Pursuant to Section 1 (Clearing Member and Dealer Status) of the Procedures, an FXCCM may appoint a third party to fulfil one or both of the Clearing House's Membership requirements to: (i) participate in a ForexClear "fire drill" run by the Clearing House; and (ii) participate in the ForexClear Default Management Process operated by the Clearing House.
As part of the ForexClear Default Management Process, the Clearing House may divide an Auction Portfolio into two or more individual Auction Portfolios.
In addition, the Default Management Process seeks to ensure that a member’s contingent obligations in the event of default are commensurate with the nature and scale of its cleared activity.
Tearing-up of trades shall mean the process of closing out of Trades before the Trade's value date where such close-out is initiated by the Clearing Corporation as part of its Default Management Process.
Each Clearing Member has provided an undertaking to discharge its obligations in participating in the Default Management Process pursuant to Clearing Rule 1609.Non-Defaulting Clearing Members shall provide market access for OTC Clear to execute Hedging pursuant to Clearing Rule 1801 and section 8.5. Each Non-Defaulting Clearing Member shall support the Hedging or risk neutralization process by promptly providing the Default Management Group with competitive pricing for hedging trades upon request.