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

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 the unrealized loss of all open Orders with AFEX by Client falls below the Variation Margin requirements established elsewhere in this Agreement, based on AFEX’s computation on any Business Day, then Client may request that AFEX return to it the difference between the unrealized loss of all open Orders and the Variation Margin held by AFEX on that Business Day.
Each time the net market value of all of Client’s open Orders declines and the unrealized loss when marked to market further increases, AFEX may issue a Margin Call whereby Client is required to post additional Variation Margin in the amount stated in the Margin Call within one (1) clear Business Day.
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.

More Definitions of Variation Margin

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, 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, in connection with an outstanding futures contract or option thereon owned or sold by the Trust, 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 or option fluctuates.

Variation Margin has the meaning set out in clause 21.1

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.