Examples of General Clearing Member ( in a sentence
In order to be connected to the electronic trading system trading participants with the clearing status Direct Clearing Member (DCM) and General Clearing Member (GCM) need at least one dedicated line plus a back-up connection.•Premium: In the case of Premium, the trading participant is connected via two parallel dedicated lines, which, to the extent technically possible and suitable, are set up by using separate routing paths or are leased from two different providers.
Joint Statement between Participant & General Clearing Member (F1-1a): Joint statement of the candidate Participant with the General Clearing Member of ATHEXClear who cooperates with the latter in clearing its transactions – required only by candidate Participants who will be Non-Clearing Members.
For example: if the Directors have prescribed that a Category 1 Member is required to hold 25,000 B Shares and that an LMEprecious General Clearing Member is required to hold 10,000 B Shares, a Candidate seeking to become both a Category 1 Member and an LMEprecious General Clearing Member would be required to hold 25,000 B Shares in total (not 35,000 B Shares).
Direct membership as an NCM or CM requires fulfilling the respective membership requirements of EEX and ECC and in case of NCMs entering into a relationship with an ECC General Clearing Member (GCM).
For the avoidance of doubt, such arrangements may include the maintenance of settlement and custody accounts for Precious Metals with: (a) an LMEprecious General Clearing Member; or (b) a Precious Metal Clearer; or (c) a custodian having an account for the settlement of unallocated Precious Metals.