Variation Margin definition

Variation Margin means, in connection with an outstanding futures contract owned or sold by the Corporation, the amount of cash or securities paid to or received from a broker (subsequent to the Initial Margin payment) from time to time as the price of such futures contract fluctuates.

Variation Margin means margins collected or paid out to reflect current exposures resulting from actual changes in market prices;

Variation Margin means the collateral collected by a counterparty to reflect the results of the daily marking-to-market or marking-to-model of outstanding contracts referred to in Article 11(2) of Regulation (EU) No 648/2012;

Examples of Variation Margin in a sentence

• To adjust the calculation of the Variation Margin of the following exchange trading day, settlement prices of the last cum trading day will be multiplied by the R-factor.The new contract size will be calculated as follows: Contract size new = contract size old / R-factorAll outstanding orders and quotes will be deleted after close of trading on the last cum trading day.

• Payment of Variation Margin is due on or before the close of business on the next Business Day after the day AFEX issues Margin Call to Client.

• If AFEX does not receive Initial Margin or Variation Margin when due, AFEX, at its option and in its sole discretion, may close out any or all of Client’s open Orders and apply the proceeds first to reimburse AFEX for the amounts due under the Orders, including all Losses, and remit the balance of the proceeds, if any, to Client.

• AFEX may, without prior notice, set-off any amount owing by Client to AFEX against any other amount owing by AFEX to Client, including amounts held as Initial Margin and/or Variation Margin.

• In this Section 1.5.4 (Price Alignment Interest), "T" means any given business day; "T-1" means the business day immediately preceding T; "T+1" means the business day immediately following T; and "MTM" means the total value (expressed in the relevant currency) of an FXCCM's portfolio open of ForexClear CTM Contracts after valuation in accordance with Section 1.5.2 (Variation Margin and NPV Payments) at close of business on any business day.

More Definitions of Variation Margin

Variation Margin means, in respect of every Product for each trading day, a reasonable estimate of the market value of such Product as determined by Exchange, in its sole discretion, considering the reasonable estimation of the current market value using internal and external sources for each Product. Should the Contracting Party dispute such determination, Exchange will investigate and determine, in its sole discretion, whether or not a recalculation should be undertaken and will advise the Contracting Party of its decision as soon as reasonably practicable.

Variation Margin means cash funds required when the net marked to market value of all open Orders exceeds 10%, or an alternative percentage or fixed amount as AFEX may advise, of the notional value of all open Orders.

Variation Margin means cash funds required when the net marked to market value of all open Orders exceeds 10% or an alternative percentage of the notional value of all open Orders, or a fixed amount as AFEX may advise.

Variation Margin means, in respect of every Product for each trading day, a reasonable estimate of the market value of such Product as determined by Exchange, in its sole discretion, considering the reasonable estimation of the current market value using internal and external sources for each Product. Should the

Variation Margin has the meaning set out in clause 21.1 1.4. any reference in this agreement to "Date of Signature hereof" shall be read as meaning a reference to the date of the last signature of this agreement; 1.5. any reference to an enactment is to that enactment as at the Date of Signature hereof and as amended or re-enacted from time to time; 1.6. if any provision in a definition is a substantive provision conferring rights or imposing obligations on any party, notwithstanding that it is only in the definition clause, effect shall be given to it as if it were a substantive provision in the body of the agreement; 1.7. when any number of days is prescribed in this agreement, same shall be reckoned exclusively of the first and inclusively of the last day unless the last day falls on a Saturday, Sunday or public holiday, in which case the last day shall be the next succeeding day which is not a Saturday, Sunday or public holiday; 1.8. where figures are referred to in numerals and in words, if there is any conflict between the two, the words shall prevail; 1.9. expressions defined in this agreement shall bear the same meanings in schedules or annexures to this agreement which do not themselves contain their own conflicting definitions; 1.10. reference to day/s, month/s or year/s shall be construed as Gregorian calendar day/s, month/s or year/s; 1.11. the use of any expression in this agreement covering a process available under South African law such as a winding up (without limitation eiusdem generis) shall, if any of the parties to this agreement is subject to the law of any other jurisdiction, be construed as including any equivalent or analogous proceedings under the law of such defined jurisdiction; 1.12. where any term is defined within the context of any particular clause in this agreement, the term so defined, unless it is clear from the clause in question that the term so defined has limited application to the relevant clause, shall bear the meaning ascribed to it for all purposes in terms of this agreement, notwithstanding that that term has not been defined in this interpretation clause; 1.13. the expiration or termination of this agreement shall not affect such of the provisions of this agreement as expressly provide that they will operate after any such expiration or termination or which of necessity must continue to have effect after such expiration or termination, notwithstanding that the clauses themselves do not expressly provide for this; 1.14. the rule...

Variation Margin means that the Funds that are required as additional security from the Clients to supplement the Initial Margin if there is an adverse movement in the price of Transaction.

Variation Margin means the additional margin required from the Client to cover adverse exchange rate movements relating to existing Forward Trades.