Examples of Rates Service Contracts in a sentence
Upon the Default of a Rates Service Clearing Member, the Clearing House has the power and authority, pursuant to the Rulebook, to liquidate the Rates Service Contracts the Defaulter has entered into in respect of its Clearing Clients which, pursuant to the Rulebook, would be conducted in accordance with the Rates Service DMP Annex.
The Clearing House may enter into hedge transactions, liquidate (by way of auction or otherwise) the Rates Service Contracts and the associated hedge positions for the account of the Hedged Account, and take related actions with respect to a Hedged Account (and the positions held therein), in each case, in its sole discretion as permitted by the Rulebook and Applicable Law, or as directed by an applicable Regulatory Body.
The Clearing House shall hold the relevant Collateral in the relevant Client Account, in each case until the liquidation of the entire Hedged Account and all Rates Service Contracts and other positions therein, as described below.
In certain circumstances the Clearing House may determine, in its sole discretion, that the Rates Service Contracts entered into by the Defaulting Rates Service Clearing Member in respect of one or more Clearing Clients should be liquidated.
In the event of such determination, the Clearing House shall transfer (either physically or by book- entry) the Rates Service Contracts to be liquidated into an account at the Clearing House established for purposes of liquidating the Rates Service Contracts entered into by the Defaulting Rates Service Clearing Member in respect of its Clearing Clients (such account, a “Hedged Account”).
Where the Clearing House transfers Rates Service Contracts referable to a Clearing Client into a Hedged Account, such Clearing Client is referred to as a “Non-Porting Client”.
Additionally, no Contracts other than Rates Service Contracts will be transferred into a Hedged Account established for liquidating Rates Service Contracts.
The Clearing House may establish one or more separate Hedged Account(s) for Rates Service Contracts that are non-transferable and will be subject to liquidation and, if applicable, may include in each such Hedged Account the Rates Service Contracts that are to be liquidated, regardless of the Clearing Clients for which such Rates Service Contracts are held.
Such hedging will be achieved in part by: (x) the splitting of Portfolios pursuant to Rule 2.1 above; and/or (y) transfers of certain Rates Service Contracts to one or more Hedged Accounts as described more fully in the Procedures (or, in respect of a defaulting FCM Clearing Member, in the FCM Procedures).
London Gateway (container port, business park, logistics centre at Shellhaven) : the Inspector’s report was submitted in Feb 2004.