Examples of Necessary Consents in a sentence
A Backloaded Trade which has been presented for clearing (or with respect to which the Clearing House has received the one or more Necessary Consents, if any) shall be deemed to have been submitted by the SwapClear Clearing Member(s) or the SwapClear Clearing Member and the FCM Clearing Member (as the case may be) for registration by the Clearing House at such time that the Clearing House determines that sufficient Collateral has been provided to register that Backloaded Trade.
Apart from in respect of Necessary Consents, the Clearing House is not able to, and will not, verify the authorisation of the source of any details of any transaction reported to it for registration by any Approved Trade Source System.
SwapClear Clearing Members shall ensure that Necessary Consents are provided by appropriately authorised personnel.
Unless notified otherwise, the SwapClear clearing system will be operational during the following hours: 06:00 London Time to 19:00 New York Time1 However, SwapClear Clearing Members should note that Necessary Consents in relation to a Notification submitted during a business day shall be accepted by the Clearing House until 19.01 New York time on the following day.
At least once every Business Day, the Clearing House will carry out a process (each a "Backload Registration Cycle") for the registration of Backloaded Trades which have been presented for clearing or with respect to which the Clearing House has received one or more Necessary Consents, if any.