Excess Margin means customer collateral in respect of a customer’s cleared derivatives that
Excess Margin means, in relation to an FCM Client Margin Sub-Account the amount (if any) by which the FCM Client Margin Sub-Account Balance of the relevant FCM Client Margin Sub-Account exceeds the Margin Requirement determined by Eurex Clearing AG with respect to the relevant FCM Client Margin Sub-Account of such FCM Client.
Excess Margin means the customer collateral required by a clearing member or clearing intermediary in excess of the amount required by the derivatives clearing agency for the cleared derivatives of a customer;
Examples of Excess Margin in a sentence
An FCM Clearing Member is permitted to maintain Excess Margin with the Clearing House in respect of its FCM Client Sub-Accounts, in accordance with the provisions of the FCM Rulebook.
However, an FCM Client’s FCM Client Sub-Account is permitted to maintain Excess Margin on an intraday basis.
If at any time an FCM Clearing Member furnishes Margin to the Clearing House on behalf of an FCM Client in an amount which would cause such FCM Client’s FCM Client Sub-Account to contain Excess Margin, the Clearing House shall be permitted to reject the deposit of any such Excess Margin or to immediately transfer any such Excess Margin back to the FCM Clearing Member.
An alternative model which permits such Excess Margin to be maintained (the With Client Excess Model) is described in FCM Regulation 15(d).
An FCM Clearing Member is permitted to maintain Excess Margin with the Clearing House in respect of its Proprietary Accounts.
More Definitions of Excess Margin
Excess Margin has the meaning specified in Section 3(q).
Excess Margin has the meaning specified in Section 3(o).
Excess Margin means, (i) in respect of a Client Sub-Account, the amount (if any) by which the corresponding Client Sub-Account Balance exceeds the Required Margin applicable to the Contracts registered to such Client Sub-Account, and (ii) in respect of a Clearing Member’s Proprietary Account, the amount (if any) by which the Margin balance of such Proprietary Account exceeds the Required Margin applicable to the Contracts registered to such Proprietary Account, each as determined by the Clearing House in accordance with the Rulebook.
Excess Margin means the amount of Margin plus any amount payable by UOBKH to the Client at the relevant time and less any amount payable by the Client to UOBKH at that time;
Excess Margin means, in respect of (i) an FCM Client Sub-Account (excluding FCM Buffer and Encumbered FCM Buffer); (ii) an FCM Clearing Member’s Proprietary Account; (iii) an FCM Omnibus Futures Client Account with LCH; or (iv) an FCM Omnibus Foreign Futures Client Account with LCH, the amount (if any) by which the Margin attributable to any such account exceeds the Required Margin applicable to the FCM Contracts registered to such account each as determined by the Clearing House in accordance with the FCM Rulebook. “Executing Party” means each person described as a party to an FCM Transaction in the details presented to the Clearing House via the relevant FCM Clearing Member and/or via the relevant FCM Approved Trade Source System. “Expiry Month” has the meaning ascribed to it in: (i) the relevant Exchange Rules in respect of an FCM Exchange Contract that is an FCM Option Contract; and (ii) the relevant provisions of the FCM Product Specific Terms and Eligibility Criteria Manual in respect of an FCM Listed Interest Rates Contract that is an FCM Option Contract. “FCM” means a futures commission merchant, as defined in the CEA and the CFTC Regulations promulgated thereunder, that is registered in such capacity with the CFTC. “FCM Approved Trade Source System” means a system or facility, such as an exchange, a clearing house, a swap execution facility, a designated contract market, trade affirmation or routing system or other similar venue or system, approved by the Clearing House for submitting or presenting FCM Transactions to the Clearing House. For the avoidance of doubt, the “ClearLink API” is not an FCM Approved Trade Source System. “FCM Buffer” has the meaning assigned to such term in FCM Regulation 15(a). “FCM Buffer Sub- Account” has the meaning assigned to such term in FCM Regulation 15(a). “FCM Clearing Member” means an FCM that has been approved by the Clearing House for the clearing of one or more categories of FCM Contracts on behalf of FCM Clients, in accordance with an FCM Clearing Membership Agreement and the FCM Procedures, and pursuant to these FCM Regulations, and as such is a “Clearing Member” for all purposes under the Default Rules and the FCM Default Fund Agreement, unless otherwise specified in these FCM Regulations.
Excess Margin. Defined in Subsection 2.6(a).
Excess Margin means Margin delivered to the Clearing House by a Clearing Member in respect of its Contracts which is in excess of the Required Margin in respect of such Contracts.