Examples of General Clearing Participant in a sentence
In the event the entity submitting this document is both a Trading Participant and a General Clearing Participant, no deletion is required and a single document may be submitted.
In discharging the obligations under the said Rule, a General Clearing Participant must, amongst others, comply with the requirements set out below.
In discharging the obligation under the said Rule, a General Clearing Participant must, amongst others, comply with the requirements set out below.
For the avoidance of doubt, this Directive shall not be construed so as to authorise the General Clearing Participant to deposit Clients’ securities with the Clearing House for the purpose of the General Clearing Participants’ Margin payment to the Clearing House where the Memorandum of Deposit has not been executed by the Clients.
The General Clearing Participant and the Client are not allowed to amend, vary, add or substitute etc.
Section 108 of the Act applies as if those accounting records and other records were accounting records required by that section to be kept by the General Clearing Participant.
A General Clearing Participant and Registered Person must immediately notify the Clearing House in writing upon becoming aware of any of the above circumstances.
If, at any particular time, the total amount of the relevant liabilities of a Client of a General Clearing Participant exceeds the relevant credit balance of the Client, the General Clearing Participant must in respect of the Client, deposit in a Clients’ Segregated Account of the General Clearing Participant an amount of money not greater than the amount of the excess, and the amount so deposited is to be taken, subject to paragraph 8.1(11), to be money to which the Client is entitled.
The statement of account must contain relevant details of the Client’s transactions including all charges imposed, payments made and assets the General Clearing Participant holds for the Client.
The General Clearing Participant must send each Client a statement of account on a monthly basis on all transactions in the Client’s account unless there is no change from the last statement.