Direct Clearing Participant definition

Direct Clearing Participant means a Clearing Participant authorised to clear Trades which have been dealt for its own account or have been concluded for the account of its Clients;
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Direct Clearing Participant means a Person that submits trades for clearing at Eris Clearing on behalf of its own account(s), has completed a Clearing Participant Agreement and has been granted clearing privileges by the Clearinghouse.
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Direct Clearing Participant means, in respect of Securities Clearing or Derivatives Clearing, a Clearing Participant as specified in chapter 2, article 1.3.
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Examples of Direct Clearing Participant in a sentence

  • The Direct Clearing Participant Deposit is in addition to and independent of any other sums payable to the Clearing House by the Direct Clearing Participant.

  • The Clearing House may pay interest to each Clearing Participant on all cash balances held by the Clearing House for such Clearing Participant including the Security Deposit, Clearing Fund Contribution, and Direct Clearing Participant Deposit in the manner as the Clearing House determines.

  • A Direct Clearing Participant remains accountable for all outsourced Clearing functions and will be held liable for any act or omission on the part of the Service Provider which results in a breach of these Rules.

  • The Direct Clearing Participant must have in place an insurance policy to protect it against any liability, loss or damage arising from any action or omission of the Service Provider in performing the said Clearing functions.

  • The characteristic rise and fall of the fluorescence are clearly illustrated here.

  • The Direct Clearing Participant must ensure that the Clearing House or its agent has, at all times, access to and is allowed to make copies of the Books of the Direct Clearing Participant or the Service Provider.

  • A Direct Clearing Participant which outsources its Clearing functions to a Service Provider must comply with the conditions set out in this Rule 4.20.

  • If the Clearing House makes such a request to a Direct Clearing Participant, the Direct Clearing Participant must lodge the additional amount in the form of cash and/or Approved Collateral within such time as the Clearing House determines.

  • If the value of a Direct Clearing Participant’s Direct Clearing Participant Deposit falls below RM500,000 or such higher amount as the Clearing House may have required from that Clearing Participant under Rule 3.16(1), the Direct Clearing Participant must provide the deficit in the form of cash and/or Approved Collateral within such time as the Clearing House specifies.

  • The Direct Clearing Participant must procure a written consent through a letter of undertaking from the Service Provider to allow the Clearing House or its agent to exercise its powers as stated in Rule 4.20(5) above.


More Definitions of Direct Clearing Participant

Direct Clearing Participant means a “Direct Clearing Participant” as defined in and has
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Related to Direct Clearing Participant

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

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

  • 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.

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Participant has the meaning specified in Section 10.06(d).

  • 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.

  • Other Participant means a cooperative project participant other than the United States.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.