Examples of ForexClear STM Contract in a sentence
PAA is calculated at EOD on each business day from (and including) the first business day after the Trade Date to (and including) the business day immediately preceding the Settlement Date, and the currency in which the PAA payment is denominated for a given ForexClear STM Contract shall be the ForexClear Margin or Settlement Currency of that ForexClear STM Contract.
Any NPV Payment made by an FXCCM to the Clearing House under a ForexClear STM Contract, or by the Clearing House to an FXCCM under a ForexClear STM Contract, shall be for the purpose of settlement of the applicable party’s obligation to pay the required NPV Payment pursuant to the terms of that ForexClear STM Contract and not for the purpose of collateralising any obligations of either party under that ForexClear STM Contract.
The (i) variation margin requirement in respect of each ForexClear CTM Contract and (ii) the NPV Payments in respect of each ForexClear STM Contract are calculated at EOD as the change from the preceding business day in its net present value.
Each NPV Payment in respect of a given ForexClear STM Contract will be calculated in, and must be paid in the ForexClear Margin or Settlement Currency applicable to that ForexClear STM Contract.
Each NPV Payment in respect of a given ForexClear STM Contract will be calculated in, and must be paid in the ForexClear Margin or Settlement Currency applicable to that ForexClear STM Contract.With respect to each ForexClear Contract, the variation margin requirement or NPV Payment (as applicable) is calculated every business day from (and including) the Registration Time to (and including) the EOD on the business day immediately preceding the Settlement Date.
For the avoidance of doubt, if the Clearing House determines that it shall convert a ForexClear CTM Contract into a ForexClear STM Contract, such conversion shall be effected through the Clearing House and the Converting ForexClear Clearing Member agreeing to a modification of the terms of the relevant ForexClear CTM Contract to include the ForexClear STM Terms, and each Converting ForexClear Clearing Member hereby agrees to such modification.
DISCLAIMER OF THE RESERVE BANK OF INDIA (RBI) THE DEBENTURES HAVE NOT BEEN RECOMMENDED OR APPROVED BY THE RBI NOR DOES THE RBI GUARANTEE THE ACCURACY OR ADEQUACY OF THIS IM.
Such conversion shall not be effected through the Clearing House and the Converting ForexClear Clearing Member terminating the relevant ForexClear CTM Contract and entering into a new ForexClear STM Contract.
Any NPV Payment made by an FXCCM to the Clearing House under a ForexClear STM Contract, or by the Clearing House to an FXCCM under a ForexClear STM Contract, shall be for the purpose of settlement of theapplicable party’s obligation to pay the required NPV Payment pursuant to the terms of that ForexClear STM Contract and not for the purpose of collateralising any obligations of either party under that ForexClear STM Contract.
New definitions include "ForexClear STM Contract and "ForexClear STM Terms"; as well as "ForexClear STM Contract” and “ForexClear Deliverable Forward STM Terms"; equivalent definitions have been added for NDF, Option, Spot and Swap Contracts.