Indirect Net Account definition

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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Indirect Net Account means, in relation to a Relevant Client Clearing Business, an
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Examples of Indirect Net Account in a sentence

  • In the case of each kind of account of the Defaulter which is an Omnibus Segregated Account (other than a Non-Identified Client Omnibus Net Segregated Account or an Indirect Net Account), the sum finally payable in respect of that kind of account following completion of the process set out in Rule 8 will be allocated by the Clearing House (pro rata as it sees fit in its sole discretion) between the Clearing Clients in that Omnibus Segregated Account.

  • In the case of each kind of account of the Defaulter which is a Non-Identified Client Omnibus Net Segregated Account or an Indirect Net Account, the sum finally payable in respect of that kind of account following completion of the process set out in Rule 8 will represent the aggregate entitlements of all Clearing Clients comprising that Client Account.

  • 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 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.

  • 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.

  • It accommodates the match- ing between the reduced question words and the synonym-enhanced triples stored in the lexicon.

  • The Clearing House will provide the Aggregate Indirect Net Account Client Clearing Entitlement to the defaulter's insolvency officer, rather than providing it directly to the relevant clients.

  • Indirect Net Account (" INA") – This type of account is opened in respect of clients (1) whose identities have not been recorded by the Clearing House in accordance with its procedures, and (2) who are each providing clearing services to their own clients.

  • The filters are constructed similarly to intermittent sand filters, although they use a coarser media and the surface of the gravel is left open (unburied), and there is a recirculation tank with a splitter-type valve used for recirculating filters.

  • 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.

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.

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • Indirect cost means any cost not directly identified with a single final cost objective, but identified with two or more final cost objectives or with at least one intermediate cost objective.

  • Financial Account means an account maintained by a Financial Institution, and includes:

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • 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.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Controlled Deposit Account means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104).

  • Indirect Costs has the same meaning as in 44 Ill. Admin. Code 7000.30.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • 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.

  • Holding Account means an account:

  • Merchant Account means an account used to submit credit card or debit card transactions or process credit card or debit card transactions.

  • Indirect Tax means any goods and services tax, consumption tax, value added tax or any tax of a similar nature.

  • Omnibus Account means any Shareholder Account the record owner of which is a registered broker-dealer which has agreed with the Transfer Agent to provide sub-transfer agent functions relating to each Sub-shareholder Account within such Shareholder Account as contemplated by this Schedule I in respect of each of the Funds.

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

  • Clearing Account has the meaning set forth in Section 2.7.1 hereof.

  • 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;

  • Billing Account is the checking account from which all Service fees will be automatically debited.