LME Clear definition

LME Clear means LME Clear Limited (registered in England and Wales under company number 07611628); "LME Clear Compliance Department" has the meaning set out in Membership Procedure A 2.1; "LME Clear Data" means:

LME Clear means LME Clear Limited (registered in England and Wales under company number 07611628).

LME Clear means LME Clear Limited (registered in England and Wales under company number 07611628);"LME Clear Compliance Department"has the meaning set out in Membership Procedure A 2.1;"LME Clear Data"means: (a) LME Clear System Data; and (b) LME Clear Member Data;"LME Clear Default"has the meaning set out in Rule 10.13 (LME Clear Default); "LME Clear Insolvency Default" has the meaning set out in Rule 10.13 (LME Clear Default);"LME Clear Member Data"means all data relating to Accounts, Transactions, Contracts, Positions, Collateral, Margin Requirements, or Fees relating to a Member which are provided to, or generated by, LME Clear under the Rules;"LME Clear Membership Application Form"has the meaning set out in Membership Procedure A;"LME Clear Options Exercise Screen"means the functionality made available by LME via the Website through which members can give instructions relating to the exercise of options under Options Contracts;"LME Clear Party"has the meaning set out in Rule 2.3.1;"LME Clear Payment Default"has the meaning set out in Rule 10.13 (LME Clear Default);“LME Clear Pledged Account”means the Account (as such term is defined in Part 10 of the LME Rules) in the name of LME Clear with LMEsword into which LME Warrant Collateral is required to be delivered by a Member, a Posting Affiliate or a Posting Client in order to satisfy a Member’s Margin Requirement;"LME Clear System Data"means all data relating to the operation or design of the Clearing System which is provided to, or generated by, LME Clear;"LME Contract"means a Transaction that is made on the LME between two Members (and that is defined as a "Contract" under the LME Rules);"LME Exchange Traded Products"means LME Base Products and LMEprecious Products;

Examples of LME Clear in a sentence

• The floating charge could convert to a fixed charge in the event of contract termination, or default or insolvency of LME Clear.

• LME Clear may investigate a Member and commence disciplinary proceedings against a Member in the circumstances specified by, and in accordance with the requirements of, Membership Procedure D.

• Accounts shall be subject to the application of such processes as are specified in the Clearing Procedures and the Respective Entitlements of LME Clear and each Member under each Open Contract, and the Positions that reflect such rights and obligations, shall be subject to the processes described in the Clearing Procedures.

• LME Clear shall exercise such discretion in a manner designed to promote and maintain integrity, high standards and fair dealing in accordance and consistent with Applicable Laws.

• Unless a contrary indication appears, where in these Rules it states that LME Clear "may" do something or take such step as it considers appropriate or where in these Rules any discretion, power or right is conferred on LME Clear, it shall be interpreted to mean that LME Clear may do that thing, or take that step or exercise that discretion, power or right conclusively and in its sole, absolute and unfettered discretion and without consultation or notice to any other person.

• LME Clear may appoint any person to assist it in the performance of any obligation of LME Clear under the Rules, or to take any step or action or complete any process required, permitted or otherwise contemplated under the Rules.

• Any such appointment shall be without prejudice to any obligation that LME Clear has to any Member, Posting Affiliate or Posting Client under the Rules.

• LME Clear is obliged to return this non-cash collateral upon request when the Clearing Participants’ collateral obligations have been substituted with cash collateral or otherwise discharged.

• LME Clear also holds securities as collateral in respect of its investments in overnight triparty reverse repurchase agreements under which it is obliged to return equivalent securities to the counterparties at maturity of the reverse repurchase agreements.

• Except as may be permitted pursuant to Rule 6.13 above, and subject to the application of Rule 10.7 (Portability of Client Accounts) in respect of a Defaulting Member, no Member may assign, novate or otherwise transfer any of its rights or obligations under the Rules without the prior written consent of LME Clear, which consent LME Clear may withhold.