Physical Settlement Buy Request definition

Physical Settlement Buy Request means (a) in respect of a customer, a firm commitment by such customer to enter, as Seller (i.e., the party that has an obligation to accept delivery of Deliverable Obligations), into an agreement on terms equivalent to the Representative Auction-Settled Transaction for which the Floating Rate Payer Calculation Amount (expressed as an outstanding principal balance rather than face amount of Deliverable Obligations) is the Quotation Amount stated in the request and(b) in respect of a Participating Bidder, a firm commitment by such Participating Bidder (which may take into account any Customer Physical Settlement Requests) to enter, as Seller (i.e., the party that has an obligation to accept delivery of Deliverable Obligations), into an agreement on terms equivalent to the Representative Auction-Settled Transaction for which the Floating Rate Payer Calculation Amount (expressed as an outstanding principal balance rather than face amount of Deliverable Obligations) is the Quotation Amount stated in the request.

Physical Settlement Buy Request means a firm commitment by a Participating Bidder (which may take into account any Customer Physical Settlement Requests), received by the Administrators during the Initial Bidding Period, to enter, as Seller (i.e., the party that has an obligation to accept delivery of Deliverable Obligations), into an agreement on terms equivalent to the Representative Auction-Settled Transaction for which the Floating Rate Payer Calculation Amount (expressed as an outstanding principal balance rather than face amount of Deliverable Obligations) is the Quotation Amount of a minimum of EUR5,000,000 stated in the Submission.

Examples of Physical Settlement Buy Request in a sentence

If a participating bidder of a credit default swap transaction is a net buyer of protection, it may submit a Physical Settlement Sell Request equal to its market position, and if it is a net seller of protection, it may submit a Physical Settlement Buy Request equal to its market position.
If the sum of all Quotation Amounts stated in each Physical Settlement Sell Request is less than the sum of all Quotation Amounts stated in each Physical Settlement Buy Request, all Physical Settlement Sell Requests will be matched with Physical Settlement Buy Requests, subject to the Rounding Convention.
If the sum of all Quotation Amounts stated in each Physical Settlement Buy Request is less than the sum of all Quotation Amounts stated in each Physical Settlement Sell Request, all Physical Settlement Buy Requests will be matched with Physical Settlement Sell Requests, subject to the Rounding Convention.
If, as part of the CDS auction, the Single Net Protection Seller submits a Customer Physical Settlement Buy Request that is larger than the outstanding principal balance of Available Deliverable Obligations, by definition those Available Deliverable Obligations will not be sufficient, in the second stage of the CDS auction (the Subsequent Bidding Period), to fill the entire net Open Interest to buy created as a result.

Physical Settlement Buy Request means (a) in respect of a customer, a firm commitment by such customer to enter, as Seller (i.e., the party that has an obligation to accept delivery of Deliverable