FCM Clearing Member definition
Examples of FCM Clearing Member in a sentence
To the extent required by applicable law for the valid creation and/or enforceability of a security interest, the FCM Clearing Member will arrange for the due filing and registration of any security interest granted pursuant to or in accordance with Clauses 2.2.1 and 2.
In addition, the Agreement may be amended at any time by written agreement between Eurex Clearing AG and the FCM Clearing Member.
The undersigned shall, as promptly as practicable, notify the Clearing House of any material changes to the information submitted to the Clearing House in connection with (i) its application for membership as an FCM Clearing Member (and any subsequent applications or requests for approval from the Clearing House as may be required by the FCM Rulebook) and (ii) its continued membership following an approval of its membership as an FCM Clearing Member.
The Clearing House may, if the Clearing House has issued a Default Notice in respect of the undersigned immediately, and in any other case after the effective date of termination, take such other action as it deems expedient in its absolute discretion to protect itself or any other FCM Clearing Member or Non-FCM Clearing Member including, without limitation, the liquidation of FCM Contracts but without prejudice to its own rights in respect of such contracts.
The undersigned acknowledges and agrees that an FCM Clearing Member of the Clearing House is permitted to clear only those categories of FCM Contracts for which it has received express written approval from the Clearing House.
In the absence of any notification at the date of this Agreement by the CDS FCM Clearing Member, LCH.Clearnet SA shall be entitled to assume no such third party agreements exist.
Clearnet SA and the CDS FCM Clearing Member will deliver to each other the relevant forms, documents or certificates specified as applicable to it in Schedule 2 to this Agreement in each case by the date so specified or, if none is specified, as soon as reasonably practicable following reasonable request from the other Party.
Upon the request of the CDS FCM Clearing Member, any communications issued by LCH.Clearnet SA in French will also be provided in English.
LCH.Clearnet SA shall give the CDS FCM Clearing Member no less than thirty (30) calendar days’ prior notice of any such change.
Where the foregoing delivery methods are unavailable, or in such other circumstances that the Clearing House deems appropriate, the Pre-Allocation Executing Party or Pre-Allocation FCM Clearing Member as the case may be may provide the Allocation Notice in the form of a direct written request, subject that the processing of an Allocation Notice received as a direct written request may take the Clearing House up to five (5) Business Days.