Net Daily Settlement Amount definition

Net Daily Settlement Amount means, with respect to Designated Transactions entered into by an Agent for any Settlement Date, the aggregate amount owed by the Dealer to JPMC calculated by JPMC as follows:

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Net Daily Settlement Amount means, with respect to Give-Up Transactions executed by Advisor on behalf of Customer with an Executing Dealer, and for any settlement date, the sum of the Dollar Value for each currency for which the aggregate Dollar Value would result in a net amount owed to Morgan Stanley by such Executing Dealer with respect to such Give -▇▇ ▇▇▇n▇▇▇▇▇▇▇s.

Examples of Net Daily Settlement Amount in a sentence

With respect to the Specified Counterparty Transactions for each Agent, this authority is expressly limited to a Net Daily Settlement Amount equal to the Settlement Limit specified in the applicable Notice (or its equivalent in any other currency) (the “Settlement Limit”) and a Counterparty Net Open Position equal to the Maximum Counterparty Net Open Position specified in the applicable Notice (or its equivalent in any other currency) (the “Maximum Counterparty Net Open Position”).
With respect to Counterparty Transactions, the authority set forth in Section 2, in respect of any particular Designated Party, is expressly limited to a Net Daily Settlement Amount not to exceed the Settlement Limit and a Net Open Position not to exceed the Net Open Position Limit, as set forth in the applicable Notice.
Morgan S▇▇▇▇▇▇, ▇▇▇▇ ▇ime to time and in its sole discretion, will ▇▇▇▇▇▇i▇▇ ▇▇▇ maximum permissible Net Open Position and the Net Daily Settlement Amount that may exist as of any given time with respect to the aggregate of all Customer FX Transactions with each Executing Dealer that are outstanding as of such time and will notify Advisor of such limits as soon as reasonably practicable.
This authority is expressly limited to a Net Daily Settlement Amount (as defined in the applicable Master Counterparty Agreement) not exceeding the Settlement Limit specified in the applicable Notice (or its equivalent in any other currency) (the “Settlement Limit”) and a Counterparty Net Open Position (as defined in the applicable Master Counterparty Agreement) not exceeding the Maximum Counterparty Net Open Position specified in the applicable Notice (or its equivalent in any other currency).
Unlike the Net Daily Settlement Amount, the Net Open Position represents an aggregate calculation for all Counterparty Transactions executed by a Designated Party irrespective of which day they are settling.
Lastly, the Dollar Values for the currencies in which the Dealer owes the Prime Broker a net amount are then added together to determine the Net Daily Settlement Amount.
However, in a manner similar to the Net Daily Settlement Amount, the Net Open Position is determined separately for each Designated Party because the trading limits under the Agreement apply separately to each Designated Party.
The provisions of Section 3 establish the general rule that the authority given to a Designated Party is limited to a Net Daily Settlement Amount not to exceed the Settlement Limit and a Net Open Position not to exceed the Net Open Position Limit.
The calculation with respect to a particular Settlement Date reflects the fact that the Net Daily Settlement Amount is a measure of daily settlement risk and not an indicator of overall position size or ▇▇▇▇-to-market exposure.
Morgan ▇▇▇▇▇▇y, ▇▇▇▇ time to time and in its sole discretion, will ▇▇▇▇▇▇i▇▇ ▇▇▇ maximum permissible Net Open Position and the Net Daily Settlement Amount that may exist as of any given time with respect to the aggregate of all Customer Currency Option Transactions with each Executing Dealer that are outstanding as of such time and will notify Advisor of such limits as soon as reasonably practicable.

More Definitions of Net Daily Settlement Amount

Net Daily Settlement Amount means, with respect to Counterparty Transactions executed by a Designated Party for any Settlement Date, the sum of the Dollar Value for each currency for which the aggregate Dollar Value results in a net amount owed to Prime Broker by Dealer with respect to such Counterparty Transactions, excluding any option premia that may be owed to Prime Broker and assuming (i) in respect of Counterparty Option Transactions, the exercise thereof on the Expiration Date and (ii) in respect of Counterparty FX Transactions that are Non-Deliverable, the actual exchange of the amounts of the relevant currencies.

Net Daily Settlement Amount means with respect to Specified Counterparty Transactions executed by an Agent for any Settlement Date, the sum of the Dollar’ Countervalue for each Currency for which the aggregate Dollar Countervalue results in a net amount owed to DBAG by Counterparty with respect to such Transactions, as calculated after giving effect to lli1y applicable novation or settlement netting provisions in any applicable master agreement between DBAG and the Counterparty. “Counterparty Net Open Position” melli1S the aggregate amount owed by Counterparty to DBAG with respect to Specified Counterparty Transactions executed by an Agent, calculated as follows: (A) for each FX Transaction executed by such Agent, determine the Dollar Countervalue for each currency (including U.S. Dollars) owed by Counterparty to DBAG or owed by DBAG to Counterparty under such FX Transaction; (B) for each currency (including U.S. Dollars), determine the net Dollar Countervalue amount owed by Counterparty to DBAG or owed by DBAG to Counterparty by summing the Dollar Countervalue of all long and short positions in such currency as determined in clause (A) above; (C) for each Option purchased or sold by the Counterparty in a Transaction executed by such Agent, determine the Dollar’ Countervalue of the foreign exchange delta equivalent of such Option; (D) determine the difference of (i) the sum of the Dollar Countervalue amounts determined pursuant to clause (C), minus (ii) the sum of the Dollar Countervalues of the foreign exchange delta equivalents of Netted Options; and (E) aggregate (i) the Dollar Counttervalue amounts determined pursuant to clause (B) above for each currency with respect to which Counterparty owes a net aggregate amount to DBAG and (ii) the Dollar Countervalue amount determined pursuant to clause (D) above. “Dollar Countervalue” melli1S, with respect to an amount of currency at any time (i) if such currency is U.S. Dollars, such amount and (ii) in all other cases, the lli1l0Wlt of U.S. dollars which could be purchased at the market rate prevailing at such time against delivery of such amount of currency on a specified Settlement Date. Such rate shall be determined by DBAG (in good faith and in a commercially reasonable manner) to be the market rate available to

Net Daily Settlement Amount means, with respect to Give-Up Transactions executed by Advisor on behalf of Customer with an Executing Dealer for any settlement date, the aggregate amount owed by such Executing Dealer to Morgan Stanley (excluding Netted Currency Option Transactions) calc▇▇▇▇▇▇ ▇▇ ▇▇▇▇an Stanley as follows: (a) for each such Give -Up Transaction (▇▇▇▇▇▇i▇▇ ▇▇▇ option premia that may be owed to Morgan Stanley and assuming the exercise of any Give-Up Transaction ▇▇ ▇▇s ▇▇▇▇▇▇tion date), determine the Dollar Value for each currency (including USD) owed by such Executing Dealer to Morgan Stanley or owed by Morgan Stanley to such Executing Dealer u▇▇▇▇ ▇u▇▇ ▇▇▇▇-Up Transact▇▇▇; (b) ▇▇▇ ▇ach currency (including USD), determine the net Dollar Value amount owed by such Executing Dealer to Morgan Stanley or owed by Morgan Stanley to such Executing Dealer b▇ ▇▇▇▇i▇▇ ▇▇▇ Dollar Value ▇▇ ▇▇l ▇▇▇▇ ▇nd short positions in such currency as determined pursuant to clause (a) above; and (c) aggregate the Dollar Value(s) for all currencies determined pursuant to clause (b) in respect of which such Executing Dealer owes a net aggregate amount to Morgan Stanley.

Net Daily Settlement Amount means, with respect to Give-Up Transactions executed by Advisor on behalf of Customer with an Executing Dealer for any settlement date, the aggregate amount owed by such Executing Dealer to Morg▇▇ ▇▇▇n▇▇▇ (▇▇cluding Netted Currency Option Transactions) calculated by Morg▇▇ ▇▇▇n▇▇▇ ▇▇ follows: (a) for each such Give –Up Transaction (excluding any option premia that may be owed to Morg▇▇ ▇▇▇n▇▇▇ ▇▇▇ assuming the exercise of any Give-Up Transaction on its expiration date), determine the Dollar Value for each currency (including USD) owed by such Executing Dealer to Morg▇▇ ▇▇▇n▇▇▇ ▇▇ owed by Morg▇▇ ▇▇▇n▇▇▇ ▇▇ such Executing Dealer under such Give-Up Transaction; (b) for each currency (including USD), determine the net Dollar Value amount owed by such Executing Dealer to Morg▇▇ ▇▇▇n▇▇▇ ▇▇ owed by Morg▇▇ ▇▇▇n▇▇▇ ▇▇ such Executing Dealer by summing the Dollar Value of all long and short positions in such currency as determined pursuant to clause (a) above; and (c) aggregate the Dollar Value(s) for all currencies determined pursuant to clause (b) in respect of which such Executing Dealer owes a net aggregate amount to Morg▇▇ ▇▇▇n▇▇▇.

Net Daily Settlement Amount means for any Settlement Date, the sum of the Dollar Countervalue for each currency for which the aggregate Dollar Countervalue results in a net amount owed to DBAG by Counterparty, as calculated after giving effect to any applicable novation or settlement netting provisions in any applicable master agreement between DBAG and the Counterparty (the “Counterparty Master Agreements”). “Counterparty Net Open Position” or “Give Up Net Open Position” means, with respect to a Counterparty or a Give Up Party, as the case may be, the aggregate amount owed by such Counterparty or Give Up Party to DBAG, calculated as follows: