LME Client Clearing Services definition
LME Client Clearing Services means the entering into of LME Contracts by a LME Service Clearing Member in respect of its Individual Segregated Account Clearing Clients and/or its Omnibus Segregated Clearing Clients "LME Contract" means a Contract entered into by the Clearing House with an LME Service Clearing Member on any applicable set of LME Contract Terms "LME Contract Terms" means the terms of a LME Contract as set out from time to time in the LME contract specification provided in the LME Rules "LME Eligible Product" means a product prescribed from time to time by the Clearing House as eligible for the LME Service "LME Regulations" means those Regulations which apply to LME Contracts as specified in Regulation 53 "LME Rules" means the rules, practices, procedures, trading protocols and arrangements of LME as may be prescribed from time to time relating to LME Eligible Products "LME Service" means the service provided by the Clearing House under the LME Regulations "LME Service Clearing Member" means a Member who is designated by the Clearing House as eligible to clear LME Contracts "LME Transaction" means a contract in an LME Eligible Product between LME Service Clearing Members arising or registered on LMEsmart meeting the requirements of the Regulations and the Procedures "lot" means the standard unit or quantity prescribed by an Exchange, with the approval of the Clearing House, as the trading unit of an exchange contract.