Open Contract or open contract definition
Open Contract or open contract means a Contract made with a Member on the terms (subject to variation of such terms as provided in the Regulations) of an original contract or a Contract made with a Member on the terms set out in the Regulations and/or any agreement entered into with the Member, which, in either case, has not been closed-out, settled or invoiced back in accordance with the Regulations and the Procedures. The term "open contract" shall include, where relevant, an option contract and a delivery contract, but shall not include a settlement contract, a re-opening contract or a closing-out contract "open contract subject to tender" means either (i) a Cleared Exchange Contract made with a Member on the terms (unless otherwise provided in the Regulations) of an original exchange contract or (ii) a Listed Interest Rates Contract, in either case in respect of which a tender has been given, which has not been closed out, settled or invoiced back in accordance with the Regulations and the Procedures, and shall include, except where the context otherwise requires, a delivery contract "Open Offer for LSE Derivatives Markets" means the open offer contained in Regulation 77 in relation to Orderbook Matches "option" means a right to enter into a contract for the sale and purchase of a commodity for future delivery, a contract for differences, or a delivery contract "option contract" means a contract for an option on the terms of (i) an exchange contract or (ii) a Listed Interest Rates Contract "original contract" means an original exchange contract, EquityClear Novation Transaction, Eligible EnClear Trade, an OTC Transaction other than a Repo Trade, Bond Trade or GC Trade, or a Listed Interest Rates Novation Transaction
Open Contract or open contract means a Contract made with a Member on the terms (subject to variation of such terms as provided in the Regulations) of an original contract or a Contract made with a Member on the terms set out in the Regulations and/or any agreement entered into with the Member, which, in either case, has not been closed-out, settled or invoiced back in accordance with the Regulations and the Procedures. The term "open contract" shall include, where relevant, an option contract and a delivery contract, but shall not include a settlement contract, a re-opening contract or a closing-out contract