Examples of Price Alignment Amount in a sentence
The terminology used in a report in respect of Margin, Variation Settlement, daily settlement amounts or Price Alignment Amount may reflect terminology commonly used in the industry.
In a negative interest rate environment where the applicable Price Alignment Amount Rate is negative, the Clearing House will, for a SCM, either (i) pay a Price Alignment Amount if that SCM has, on a cumulative net basis, received NPV Payments from the Clearing House, or (ii) charge a Price Alignment Amount if that SCM has, on a cumulative net basis, paid NPV Payments to the Clearing House.
The calculation of PAI and Price Alignment Amount shall use the applicable interest rate specified and published on the Clearing House's website.
The Clearing House will calculate variation margin, NPV Payments, Price Alignment Interest and Price Alignment Amount in relation to SwapClear Contracts that are non-deliverable interest rate swaps in USD, and all amounts due or payable under such SwapClear Contracts must be paid in USD.
In order to minimise the impact of such NPV Payments, the Clearing House will, for a SCM, either (i) charge a Price Alignment Amount if that SCM has, on a cumulative net basis, received NPV Payments from the Clearing House, or (ii) pay a Price Alignment Amount if that SCM has, on a cumulative net basis, paid NPV Payments to the Clearing House.
This Annex relates to the change in the rate from the Euro OverNight Index Average ( EONIA) to the Euro Short Term Rate (€STR) for the purposes of (i) calculating the Price Alignment Amount, and (ii) constituting the relevant underlying benchmark for the instruments used to construct the Clearing House’s zero coupon yield curves under 2.1.7 of the FCM Procedures to calculate the net present value, each in relation to Impacted FCM SwapClear Contracts.
The Clearing House shall not change the interest rates used for the calculation of PAI and Price Alignment Amount in respect of USD, EUR, GBP, JPY and CHF without the consent of all SwapClear Clearing Members holding open contracts in such currencies.
In a negative interest rate environment where the applicable Price Alignment Amount is negative, the Clearing House will, for an FXCCM either (i) pay a Price Alignment Amount if that FXCCM has, on a cumulative net basis, received NPV Payments from the Clearing House, or (ii) charge a Price Alignment Amount if that FXCCM has, on a cumulative net basis, paid NPV Payments to the Clearing House.
The terms of this Annex are without prejudice to the Clearing House’s rights under the Procedures to change the rate used for the purposes of (i) calculating the Price Alignment Amount, and (ii) constructing the Clearing House’s zero coupon yield curves under 12.1.7 of the FCM Procedures from time to time and such terms shall not be relevant or binding on the Clearing House in respect of any such changes.
The terms of this Annex are without prejudice to the Clearing House’s rights under the FCM Procedures to change the rate used for the purposes of (i) calculating the Price Alignment Amount, and (ii) constructing the Clearing House’s zero coupon yield curves under 2.1.7 of the FCM Procedures from time to time and such terms shall not be relevant or binding on the Clearing House in respect of any such changes.