Segregated Customer definition

Segregated Customer means a Customer of a Non-FCM/BD Clearing Member in circumstances where, whether as a result of any requirement of Applicable Law, agreement or arrangement, a customer asset segregation, client money, client asset, trust or other client asset protection regime (being more than the mere requirement arising under EMIR to distinguish from the Proprietary Account assets and positions of the Clearing Member, such as a requirement on the Clearing Member to segregate client money arising under CASS 7 of the UK FCA rules) applies as between the Customer and the Clearing Member to assets at the time immediately prior to transfer to the Clearing House as Margin for a relevant Customer Margin Account, or such other meaning as may be given to the term in the Clearing House Rules from time to time; and
Segregated Customer means a Customer of a Clearing Participant in circumstances where, whether as a result of any requirement of Applicable Law, agreement or arrangement, a customer asset segregations, client money, client asset, trust or other client asset protection regime (being more than a requirement to distinguish Customer Account assets and positions from House Account assets and positions of the Clearing Participant) applies as between the Customer and the Clearing Participant to assets at the time immediately prior to transfer to the Corporation as Margin for a relevant Customer Margin Account.
Segregated Customer has the meaning given to the term in the Clearing House Rules; and

Examples of Segregated Customer in a sentence

  • Borrower and the other Loan Parties shall cause all amounts on deposit or investment in the Segregated Customer Funds Accounts that constitute interest income (or otherwise no longer constitute Customer Funds) to be swept on at least a quarterly basis to a Controlled Deposit Account.

  • None of Borrower or any other Loan Party nor any of their respective Subsidiaries shall deposit any funds into a Segregated Customer Funds Account or direct or permit any other Person to deposit any funds into such Segregated Customer Funds Account, other than Customer Funds.

  • The proposed rule change will also establish multiple new types of omnibus accounts: Segregated Customer Omnibus Accounts (separately for each product: FX, F&O and CDS) and Segregated TTFCA Customer Omnibus Accounts (separately for each product: FX, F&O and CDS), as well as Omnibus Margin-flow Co-mingled Accounts.

  • This third proposed bulk transfer would distribute up to$2.1 billion of U.S. Segregated Customer Property in one or more stages, and permit further transfers where appropriate, as long as adequate reserves are maintained.

  • The Omnibus Customer Margin Account at this custodian will secure the clearing member’s net obligation in respect of these customers; the clearing member will grant a first priority pledge in favor of Eurex over this account, and will notify the third-party custodian of that pledge.24 The Segregated Customer Custody Account at this custodian will hold additional collateral that the clearing member collects from these customers (as required by Eurex, or in addition to the Eurex-required collateral).

  • This Motion seeks the authority to effect the equitable distribution of the True Up Amount of U.S. Segregated Customer Equity for each and every U.S.-based commodity futures customer, through this and possible future interim distributions or bulk transfers, as property is obtained and the maintenance of an adequate reserve permits.

  • Amend Proposed Rule 18-4(d)(2) to Clarify the Application of Required Subordination of Segregated Customer Margin for Uncleared Security-Based Swaps The SEC should amend proposed Rule 18a-4(d)(2) to make clear that in the event a counterparty elects to segregate initial margin with an independent third-party custodian, required subordination applies only to segregated initial margin that is kept out of the security-based swap dealer’s bankruptcy estate.

  • In the case of holders of Bounced Check Accounts who reduced their cash balances to zero, the proposed third bulk transfer would enable the Trustee to make a transfer of the entire True Up Amount—that is, more than two-thirds of theU.S. Segregated Customer Equity in the restored Bounced Check Accounts.

  • None of Borrower or any other Loan Party nor any of theirrespective Subsidiaries shall deposit any funds into a Segregated Customer Funds Account or direct or permit any other Person to deposit any funds into such Segregated Customer Funds Account, other than Customer Funds.

  • In furtherance of the Trustee’s goal of ensuring that each former MFGI commodity customer subject to the transfers benefits equally, the proposed third bulk transfer would enable the Trustee to make a transfer of the entire True Up Amount—that is, two-thirds or more of the U.S. Segregated Customer Equity in the Additional Cash-Only Accounts—to these accountholders.4 4.

Related to Segregated Customer

  • Protected Customer means any Person to whom the Company has sold its products or services or actively solicited to sell its products or services, and with whom Participant has had Material Contact on behalf of the Company during his/her employment with the Company.

  • Protected Customers means any Person to whom the Company has sold its products or services or solicited to sell its products or services during the twelve (12) months prior to the Determination Date.

  • Restricted Customer means any customer to whom or to which goods or services were provided by the Company during the two-year period prior to the date of Employee’s employment, and any potential customer of the Company that the Company solicited during the one-year period prior to the date of termination of Employee’s employment with the Company.

  • End Customer means an enterprise customer to which Partner markets or sells Products for internal use.

  • Covered Customer means any Person who is or was an actual customer or client (or prospective customer or client with whom a Covered Party actively marketed or made or taken specific action to make a proposal) of a Covered Party, as of the Closing Date, at any time during the Restricted Period and as of the relevant time of determination.

  • household customer means a customer purchasing electricity for his own household consumption, excluding commercial or professional activities;

  • TCP Customers We will not impose Credit Management Charges unless the Charges are a reimbursement of our costs and you are advised of their amount or method of calculation.

  • DMA Customer means a Customer of a Sponsoring Broker where representatives of the Customer that are natural persons are designated by the Sponsoring Broker to have Trading Access to the SEF Platform using the Participant ID of the Sponsoring Broker and where such Customer signs the DMA Customer Documentation.

  • Approved Custodian means a pool custodian or other Person that Lender deems acceptable, in its sole discretion, to hold Mortgage Loans for inclusion in a Mortgage Pool or to hold Mortgage Loans as agent for an Investor that has issued a Purchase Commitment for those Mortgage Loans.

  • Company Customer means a person or entity for whom the Company or any of its Subsidiaries was providing services either at the time of, or at any time within the twelve (12) months preceding the Termination Date, and for whom the Participant had direct contact with and/or carried out or oversaw a material business responsibility during said twelve (12) month period or about whom the Participant had exposure to or received Confidential Information as a result of the Participant’s employment with the Company or any of its Subsidiaries.

  • New Customer means a residential customer who

  • Business Customer means a customer who is not a residential customer.

  • Informed Customer Consent means, in the case where consent is required: (1) the Customer is provided with a clear statement of the data or information to be collected and allowable uses of that data or information by the party seeking consent; (2) the frequency of data or information release and the duration of time for which the consent is valid; and (3) process by which the Customer may revoke consent. In no case shall silence by the Customer ever be construed to mean express or implied consent to a request by the Company, or its Contractors. Customer consent shall be provided directly from the Customer and documented in writing, subject to forms and processes as defined by the Company.

  • Related Supplier means any person who provides services to the Customer which are related to the Services from time to time;

  • Indigent Customer means the head of an indigent household:-

  • Retail customer means any person that purchases retail electric energy for its own consumption at

  • Joint custody means (i) joint legal custody where both parents retain joint responsibility for the

  • Significant Customer has the meaning set forth in Section 5.22(a).

  • Top Customers has the meaning specified in Section 4.28(a).

  • Qualifying Customer means:

  • Permanent custody means a legal status that vests in a public children services agency or a private child placing agency, all parental rights, duties, and obligations, including the right to consent to adoption, and divests the natural parents or adoptive parents of all parental rights, privileges, and obligations, including all residual rights and obligations.

  • End-Use Customer means a person or entity in Delaware that purchases electrical energy at retail prices from a Retail Electricity Supplier.

  • Significant Customers shall have the meaning set forth in Section 3.19.

  • Qualified custodian means the following independent institutions or entities that are not affiliated with the investment adviser by any direct or indirect common control and have not had a material business relationship with the investment adviser in the previous two years:

  • Host Customer means a customer under a Customer Agreement.

  • Small customer means a retail customer that has an individual load with an average monthly demand of less than 5,000 kilowatts.