Examples of Loss Distribution Day in a sentence
If the Corporation conducts a successful Default Auction on any Potential Loss Distribution Day, that day (or, if the Corporation so determines, the preceding Business Day) shall be the final Loss Distribution Day.
For each Loss Distribution Day, the Corporation shall apply any Cash Gainer Adjustment as set forth above as an offset against any payments receivable by the relevant Clearing Member or aggregate it with any required payment to the Corporation for the relevant Account.
Following the close of business on the Business Day following a Loss Distribution Day (a “Potential Loss Distribution Day”), the Corporation shall determine whether the RGD Continuation Conditions are satisfied and if so, whether such day should constitute an additional Loss Distribution Day.
If, as of the close of business on a Potential Loss Distribution Day, the Corporation does not determine that the RGD Continuation Conditions are satisfied, or otherwise determines to terminate the Loss Distribution Period, then the Corporation may determine that either (i) that day shall not be a Loss Distribution Day and the Loss Distribution Period shall have terminated as of the last Loss Distribution Day or (ii) that day shall be the final Loss Distribution Day.
Loss Distribution Day: any business day during a Loss Distribution Period on which BME CLEARING, prior to the Margins and Settlements requirement that the CCP must issue in accordance with its regulation, determines that the CCP Loss Not Covered for that day is greater than zero.
If the Corporation has not conducted a successful Default Auction on the Final Possible Loss Distribution Day, the Corporation will conduct a Partial Tear-Up as of the close of business on such day in accordance with Rule 808.(f) Adjustment of VM payments for Cash Gainers.
Contribution to Continuity of the Service On each Loss Distribution Day, each Non-Defaulting Clearing Member must pay BME CLEARING the “Contribution to Continuity of the Service”, which will be equal to the product of multiplying the CCP Loss Not Covered on that Loss Distribution Day by the Contribution of the Non-Defaulting Clearing Member to the Segment Default Fund, divided by the total contributions by Non-Defaulting Clearing Members to the Segment Default Fund.
Nothing in this Rule 807 shall reduce or offset the obligation of a Cash Loser to pay any VM or Contractual Payments owed by it in respect of a Loss Distribution Day.
History of correspondence and discussions on the issueI attach copies of correspondence exchanged with the Department in relation to this issue.
The term " Adjustment Amount" means, in respect of all the Margin Account(s) of any Contributor and any Loss Distribution Day, an amount equal to the sum of the Cumulative Unadjusted Gains, Losses and Realised Cash Flows in respect of such Margin Account(s) of such Contributor less the sum of the Cumulative Actual Gains, Losses and Realised Cash Flows in respect of such Margin Account(s) of such Contributor, in each case in respect of the Loss Distribution Period in which such Loss Distribution Day falls.