Examples of House Account in a sentence
Once the Client position has been received into the Member’s House account, the position should subsequently be moved to the relevant GOSA/OSA/ISA account.
Where transferring a Client position between Clearing Members for the Base Service, the position must first be moved out of the relevant GOSA/OSA/ISA account to the Member’s House account using the Transfer post-trade category.
For the LMEprecious service, transferring a Client position between Clearing Members does not need to be moved out of the relevant GOSA/OSA/ISA account to the Member’s House account.
The Clearing House shall have the right to instruct such Approved Financial Institution to debit the Margin accounts maintained by a Clearing Member for any deposits of Initial Margin or payments of Variation Margin due to the Clearing House pursuant to these Rules and to deposit such funds into the appropriate Clearing House account.
No Clearing Member shall instruct a Settlement Bank to reverse any payment from or to a Clearing House account without prior authorisation from the Clearing House evidenced in writing.