Indirect Net Account definition

Indirect Net Account means, in relation to a Relevant Client Clearing Business, an
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Indirect Net Account means, in relation to a Relevant Client Clearing Business, an Omnibus Segregated Account which is (i) opened by a Clearing Member for the purpose of providing Client Clearing Services to one or more Indirect Net Account Clearing Clients who are, in turn, providing clearing services to their Indirect Clearing Clients, and (ii) designated by the Clearing House as an Indirect Net Account, but, for the avoidance of doubt, does not include any Omnibus Segregated Account comprising Determined Omnibus Net Segregated Clients
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Examples of Indirect Net Account in a sentence

  • For example, porting of SwapClear Contracts and associated collateral from a Defaulting SCM to a Backup Clearing Member may be less likely to succeed in respect of an OSA compared with an ISA, or in respect of an Indirect Net Account compared with an Indirect Gross Account.

  • For example, porting of Listed Interest Rates Contracts and associated collateral from a LIR Clearing Member which is a Defaulter to a Backup Clearing Member may be less likely to succeed in respect of an OSA compared with an ISA, or in respect of an Indirect Net Account compared with an Indirect Gross Account.

  • For example, porting of ForexClear Contracts and associated collateral from a Defaulting FXCM to a Backup Clearing Member may be less likely to succeed in respect of an OSA compared with an ISA, or in respect of an Indirect Net Account compared with an Indirect Gross Account.

  • For example, porting of LSE Derivatives Markets Cleared Exchange Contracts and associated collateral from a LSEDM Clearing Member which is a Defaulter to a Backup Clearing Member may be less likely to succeed in respect of an OSA compared with an ISA, or in respect of an Indirect Net Account compared with an Indirect Gross Account.

  • For example, porting of EquityClear Contracts and associated collateral from an ECM which is a Defaulter to a Backup Clearing Member may be less likely to succeed in respect of an OSA compared with an ISA, or in respect of an Indirect Net Account compared with an Indirect Gross Account.

Related to Indirect Net Account

  • Direct Account : means any Account which is not an ISA Account.

  • Indirect Losses means loss of profits, loss of production, loss of business, loss of business opportunity, or any claim for consequential loss or for indirect loss of any nature;

  • Joint Account means an Account opened in more than one name;

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Indirect cost means those costs incurred for a common or joint purpose benefitting more than one cost objective, and not readily assignable to the cost objectives specifically benefitted, without effort disproportionate to the results achieved. Indirect Costs represent the expenses of doing business that are not readily identified with the Grant Project responsive to this RFA but are necessary for the general operation of the organization and the conduct of activities it performs.

  • Indirect Ownership Interest means an ownership interest in an entity that has an ownership interest in another entity. Indirect ownership interest includes an ownership interest in an entity that has an indirect ownership interest in another entity.

  • Indirect Costs has the same meaning as in 44 Ill. Admin. Code 7000.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Investment Account As defined in Section 3.12(a).

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;