Direct Clearing Member definition

Direct Clearing Member means a Person that submits trades for clearing at Eris Clearing on behalf of its own account(s), has completed a Clearing Member Agreement and has been granted clearing privileges by the Clearinghouse.
Sample 1Sample 2Sample 3
Direct Clearing Member means a Direct Clearing Member, as defined in the Clearing Conditions.
Sample 1Sample 2
Direct Clearing Member means a Clearing member who has such rights and obligations as set out in Chapter 2 of the Clearing Rules.
Sample 1

Examples of Direct Clearing Member in a sentence

  • If a Market Participant is not itself authorized to participate in the clearing procedure (a ”Non-Clearing Member”), it may only effect transactions through the General Clearing Member or the affiliated Direct Clearing Member that performs the clearing of its transactions on Eurex Bonds.

  • The Non-Clearing Member and the Direct Clearing Member shall be obliged to inform Eurex Clearing AG promptly in the event that they cease to meet such prerequisites.

  • If a Trading Participant of a Market pursuant to Paragraph 1 is not itself authorised to engage in Clearing activities (a "Non-Clearing Member"), its transactions may only be effected through the General Clearing Member (Number 1.7 Paragraph 1) or an affiliated Direct Clearing Member (Number 1.

  • A Clearing Agreement may only be entered into by a Non-Clearing Member and a Direct Clearing Member if the Non-Clearing Member is an affiliated company (as determined by Eurex Clearing AG and notified to the Clearing Members) of the Direct Clearing Member.

  • A Member must not execute a contract on BHB unless it is qualified by a General Clearing Member, or is itself a Direct Clearing Member of the CSD.

  • Direct Clearing Member: The Clearing Member, as defined in the Clearing Rulebook for Balancing Market Positions, which participates in the clearing procedures of the Clearing House and is responsible for the fulfillment of obligations arising from the Positions it represents in accordance with the Clearing Rulebook for Positions on Balancing Market.

  • Meet all the requirements stipulated by the CCP for trading the products of MIBGAS Derivatives Futures, which include having clearing capacity in the CCP, either directly (assuming the role of Direct Clearing Member of the CCP), or indirectly (signing a clearing agreement with a General Clearing Member of the CCP).

  • Whenever an order or quote entered into the systems of the Markets pursuant to Paragraph 1 by a Non-Clearing Member is matched with another order or quote, a transaction takes place between such Non-Clearing Member and the General Clearing Member or the Direct Clearing Member, and a corresponding transaction simultaneously takes place between the General Clearing Member or the Direct Clearing Member and Eurex Clearing AG.

  • In order to be connected to the electronic trading system, companies with the clearing status Direct Clearing Member (DCM) and General Clearing Member (GCM) need at least one leased line plus a backup connection based on leased lines.

  • Direct Clearing Agreement betweenEurex Clearing AG, Frankfurt am Main, and as Direct Clearing Member (DCM) 1.


More Definitions of Direct Clearing Member

Direct Clearing Member means a clearing member only permitted to conduct clearance and payment for its own derivative transactions and for those of its brokerage clients.
Sample 1
Direct Clearing Member means a Person that submits fully funded trades for clearing at Cboe Clear Digital on behalf of its own account(s), has completed a Clearing Member Agreement and has been granted clearing privileges by the Clearinghouse excluding trading on margin.
Sample 1

Related to Direct Clearing Member

  • 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.

  • Recognised Clearing System means any clearing system listed in Section 246A of the Taxes Act (including, but not limited to, Euroclear, Clearstream Banking AG, Clearstream Banking SA and CREST) or any other system for clearing shares which is designated for the purposes of Chapter 1A in Part 27 of the Taxes Act, by the Irish Revenue Commissioners, as a recognised clearing system.

  • Controlling ownership interest means ownership of or entitlement to more than twenty-five percent of shares or capital or profits of the company;

  • Voting Member means a Member holding one or more Voting Shares.

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