Examples of House Collateral Account in a sentence
The following procedures apply to porting of cash Collateral by a Clearing Member representing Excess Margin in its House Collateral Account to any of its Client Collateral Accounts.
The following procedures apply to porting of non-cash Collateral by a Clearing Member representing Excess Margin in its House Collateral Account to any of its Client Collateral Accounts.
They will be called from Clearing Members' house PPS account and subscriptions will be debited from the House Collateral Account.
HKSCC will record the cash amount received by it from the Clearing Agency Participant as credit entries in the CCMS House Collateral Account of the Clearing Participant, and the cash amount will be treated as Contract Currency Collateral of the corresponding Clearing Participant.
Pursuant to Chapter 9 of the Clearing Rules, the following accounts may be opened for a Clearing Member on the OTC Clear’s books and records: (i) one House Position Account and one or more Client Position Accounts may be established for a Clearing Member, (ii) one House Collateral Account and one or more Client Collateral Accounts may be established for a Clearing Member, (iii) but only one GF Account will be established for a Clearing Member.
If the Participant wishes to make use of and/or withdraw from the CCMS House Collateral Account any Collateral Securities, as long as the total value (or Discounted Market Value, if applicable) of the General Collateral Inventory is greater than the Ear-marked Value of the Participant, the Participant may be allowed by HKSCC in its sole discretion to make use of and/or withdraw the Collateral Securities with value greater than the Ear-marked Value.
Participants will not be allowed to use or withdraw Collateral Securities from the CCMS House Collateral Account except with the express consent of HKSCC, given in a manner as determined by HKSCC in its absolute discretion.
Cash in Renminbi or any other currency provided by a China Connect Clearing Participant to HKSCC pursuant to Rules 4107(i), 4107(ii) and/or 4107(iii) shall be recorded as credit entries in the CCMS House Collateral Account (or any other CCMS Collateral Account as determined by HKSCC) of the Participant.
Such House Excess Collateral will be maintained in its House Collateral Account, in which case it will be used for the novation of House Trade Legs and taken into account by LCH SA when it calculates the amount of Collateral which is needed for the House Margin Account, as part of the Notional and Collateral Check (as set out in Paragraph 2.5(b)(i) below).
Collateral Securities credited to the CCMS House Collateral Account of a Participant may not be transferred from such account without the express consent of HKSCC, given in a manner as determined by HKSCC in its absolute discretion.