Multilateral Compression definition
Multilateral Compression means the exercise in which some or all of the SwapClear
Multilateral Compression means the exercise in which some or all of the SwapClearContracts submitted by two or more Compression Clearing Members either on their own account or with respect to a SwapClear Clearing Client, for inclusion in a Multilateral Compression Cycle are wholly terminated and, where relevant, replaced with other SwapClear Contracts "Multilateral Compression Cycle" means the process of Multilateral Compression in accordance with a Compression Proposal, whether by way of an ACSP Compression Cycle or a Member Compression Cycle "Net Recovery" means any sum received by the Clearing House from or for the account of a Defaulter after the issue by the Clearing House of a Rule 19 Certificate in respect of losses arising upon the Defaulter’s Default less any amount payable to any insurer or provider of analogous services in respect of any amount due from but not previously paid by the Defaulter "New Member" means, on the day as at which any Contribution is to be calculated, any Clearing Member which either has become a Clearing Member, or has commenced clearing in respect of the relevant Service, since the immediately preceding day prescribed for calculating similar Contributions "Nominated Group Member" has the meaning assigned to it in Chapter XIV(k) "Non-Affected ForexClear Option Clearing Member" means a ForexClear Option Clearing Member that is not an Affected ForexClear Option Clearing Member "Non-Clearing Participant ("NCP")" means, in respect of a Service, a person (a) who is not a Clearing Member in such Service, (b) whom a Clearing Member has appointed as an NCP, in respect of such Service, in accordance with the Procedures, (c) who has been notified to the Clearing House in accordance with Section 1.2.2 of Section 1 of the Procedures, and (d) whose appointment as an NCP, in respect of such Service, has not been terminated in accordance with Section 1.2.3 of Section 1 of the Procedures "Non-Defaulting FXCCM" means an FXCCM which is not a Defaulter under Rule 4 of the Default Rules "Non-Defaulting Joint Rates Service Clearing Member" means a Joint Rates Service Clearing Member which is not a Defaulter under Rule 4 of the Default Rules "Non-Defaulting Rates Services Clearing Member" means a Rates Service Clearing Member which is not a Defaulter under Rule 4 of the Default Rules "Non-Defaulting RCM" means an RCM which is not a Defaulter under Rule 4 of the Default Rules
Multilateral Compression means the exercise in which some or all of the SwapClear Contracts submitted by two or more Compression Clearing Members either on their own account or with respect to a SwapClear Clearing Client, for inclusion in a Multilateral Compression Cycle are wholly terminated and, where relevant, replaced with other SwapClear Contracts
More Definitions of Multilateral Compression
Multilateral Compression means the exercise in which some or all of the FCM SwapClear Contracts or Non-FCM SwapClear Contracts, as applicable, submitted by two or more Compression Clearing Members (either on their own behalf or on behalf of an Authorised Compression Client), as applicable, for inclusion in a Multilateral Compression Cycle are wholly terminated and, where relevant, replaced with other FCM SwapClear Contracts or Non-FCM SwapClear Contracts. “Multilateral Compression Cycle” means the process of Multilateral Compression in accordance with a Compression Proposal, by way of an ACSP Compression Cycle . “MER” Has the meaning assigned to it in Section 2.1.3(c) of the FCM Procedures. “Nominated FCM Client” has the meaning assigned to it in the FCM Procedures. “Non-FCM Clearing Member” means either a SwapClear Clearing Member, a ForexClear Clearing Member or a Listed Interest Rates Clearing Member, as applicable. “Non-FCM Contract” means either a Non-FCM SwapClear Contract, a Non- FCM ForexClear Contract or a Non-FCM Listed Interest Rates Contract, as applicable. “Non-FCM ForexClear Contract” means a “ForexClear Contract” (as such term is defined in the UK General Regulations) and which is governed in accordance with the UK General Regulations. “Non-FCM Listed Interest Rates Contract” means a “Listed Interest Rates Contract” (as such term is defined in the UK General Regulations) and which is governed in accordance with the UK General Regulations. “Non-FCM SwapClear Contract” means a “SwapClear Contract” (as such term is defined in the UK General Regulations) and which is governed in accordance with the UK General Regulations. “Non-Porting Client” has the meaning assigned to it in the FCM Procedures. “NPV Determination Time” has the meaning assigned to such term in FCM Regulation 47(a). “Official Quotation” means a price determined by the Clearing House under FCM Regulation 15. “Omnibus Collateral Value” means, at any given time in respect of an FCM Omnibus Swaps Client Account with LCH, the aggregate Margin, as determined by the Clearing House in accordance with the FCM Rulebook, attributable to such FCM Omnibus Swaps Client Account with LCH (and regardless of whether such
Multilateral Compression means the exercise in which some or all of the FCM