Individual Clearing Member definition

Individual Clearing Member. (“ICM”) means a Member Firm which is a member of the Designated Clearing House and which has entered into a relationship prescribed by the Designated Clearing House for such purposes, thereby agreeing to act in the capacity of General Clearing Member for themselves only;

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Individual Clearing Member. : shall mean a legal person that, in the context of the System, becomes a counterparty of CC&G for Market operations on its own behalf and/or on behalf of its own Clients other than Trading Clients.

Examples of Individual Clearing Member in a sentence

Individual Clearing Member shall warrant and be responsible for the correctness and validity of all data provided to KPEI in fulfilling its membership requirements in KPEI as well as data relating to the performance of KPEI services provision as referred to in this agreement.
To withhold fund and/or Securities of Individual Clearing Member and/or Customer of Individual Clearing Member which should be the right of Individual Clearing Member and/or Customer of Individual Clearing Member, in the event that there is failure of settlement of Securities Exchange Transaction on Equity Securities by the concerned Individual Clearing Member.
KPEI can amend the regulation and provision stipulated by KPEI at any time with the approval of OJK and for such amendment KPEI must notify each Individual Clearing Member.
Individual Clearing Member must pay services fee which includes the fee for Clearing and Guarantee of Securities Exchange Transaction Settlement to KPEI which amount and method of payment shall be in accordance with provisions and regulations stipulated by KPEI.
KPEI shall provide report and information to the concerned Individual Clearing Member which is limited to any matters related to the provision of KPEI services.
Individual Clearing Member shall be entitled to use facility and infrastructure provided by KPEI for the interest of Individual Clearing Member which is limited to any matters related to the provision of KPEI services.
Individual Clearing Member must provide data and document as well as financial condition, activity, and management of Individual Clearing Member related to membership requirements in accordance with the provisions and regulations stipulated by KPEI.
Individual Clearing Member must give approval to KPEI to obtain information and/or document deemed necessary by KPEI regarding information related to the activity of Individual Clearing Member from Stock Exchange and/or the Depository and Settlement Institution (LPP).
Individual Clearing Member no longer meets the requirements as KPEI Clearing Member as stipulated by KPEI Regulation.
Individual Clearing Member must deposit money in the amount of 0.01% (zero point zero one percent) of the value of each Securities Exchange Transaction on Equity Securities as an irrevocable Guarantee Fund and it must be paid no later than the settlement day of Securities Exchange Transaction on Equity Securities through KPEI, as provided in OJK circular letter, and in accordance with KPEI and Stock Exchange provisions.

More Definitions of Individual Clearing Member

Individual Clearing Member. : shall mean a legal person that, in the context of the System, becomes a counterparty of Euronext

Individual Clearing Member or “ICM” means a party that is a Member of SECDEX as further described at Rule 3;