Examples of Special Participant in a sentence
Each time a Member undertakes a clearing authorization from an Overseas Special Participant or an Overseas Intermediary, the minimum clearing deposit of the corresponding internal ledger under such authorized Member will be separately announced by the Exchange.
Where a party to an Exchange Trade is a Special Participant, the relevant Clearing Agency Participant which clears Exchange Trades for the Special Participant shall become a party to the Exchange Trade as principal in substitution for, and with exactly the same rights and obligations under the Exchange Trade as, that Special Participant.
If a Participant which is not an Exchange Participant or Special Participant is declared a defaulter, HKSCC will request the Exchange to suspend from trading any NCP of the GCP or any Special Participant of the Clearing Agency Participant which does not have in place immediately upon suspension of the GCP or Clearing Agency Participant a valid, binding and effective Clearing Agreement with another GCP or Clearing Agency Participant, as the case may be.
DiscussionWhile we recognize the significant cash flow burden caused by paying two State Fiscal Years worth of Temporary State Assessments over a 15-month period, to recover all of those costs over 15 months, as NYSEG/RG&E recommend, would result in bill impacts of approximately 3% and average delivery rate increases approaching 10% for some companies.
For the avoidance of doubt, prior to the occurrence of an Event of Default in respect of a Clearing Agency Participant, its rights and obligations in respect of a Special Participant shall not be set off against its rights and obligations in respect of another Special Participant.