LCH Sample Clauses
The LCH clause refers to provisions involving the London Clearing House, a central counterparty clearing house commonly used in financial and derivatives transactions. This clause typically outlines the roles, responsibilities, and procedures for clearing trades through LCH, including requirements for margin, default management, and settlement processes. By specifying how transactions are cleared and managed via LCH, the clause ensures standardized risk mitigation and operational efficiency, reducing counterparty risk and promoting market stability.
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LCH. Clearnet SA shall not use or share any Aggregated Data with third parties other than a Third Party Data Aggregator (whether for fees or otherwise), save with the written prior consent or at the written proposal of at least 50% of Clearing Members by reference to the volume of Open Positions held in the Clearing Members’ House Margin Accounts.
LCH. Clearnet SA shall be permitted to amend Schedule 3 to this Agreement from time to time following consultation with the Risk Committee.
LCH. Clearnet SA will keep that Market Data securely and properly protected against theft, damage, loss and unauthorised access;
LCH. Clearnet SA irrevocably appoints LCH.Clearnet Group Limited at ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ as its agent under the CDS Clearing Documentation (including this Agreement) for service of process in any ancillary proceedings before the English courts in connection with any arbitration proceedings pursuant to the CDS Dispute Resolution Protocol.
LCH. Clearnet SA at its head office at ▇▇, ▇▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇.
LCH. Clearnet SA and the CDS Clearing Member will deliver to each other the relevant forms, documents or certificates specified as applicable to it in Schedule 2 to this Agreement in each case by the date so specified or, if none is specified, as soon as reasonably practicable following reasonable request from the other Party.
LCH. Clearnet SA may only use the Market Data to aggregate it, or permit a Third Party Data Aggregator to aggregate it, with the Market Data received from all other Clearing Members for the purpose of creating the End of Day Contributed Prices for the CDS Clearing Service and LCH.Clearnet SA will not use the Market Data received from the CDS Clearing Member for any other purpose.
LCH. Clearnet SA will treat the CDS Clearing Member’s Market Data as strictly confidential and shall not display, disclose, distribute, identify or otherwise make it available to any person other than to:
(i) a third party data aggregator that is responsible for compiling the End of Day Contributed Prices in accordance with the CDS Clearing Documentation (a “Third Party Data Aggregator”); or
(ii) the CDS Clearing Member that has provided it;
LCH. Clearnet SA shall not use or disclose information obtained in the course of its duties under the Clearing Rules for other purposes than those which are permitted under the Clearing Rules, unless LCH.Clearnet SA, or one or more of its employees, have a statutory obligation to do so.
LCH. Clearnet SA and the CDS FCM Clearing Member each make to the other, as at the date of this Agreement and at all times prior to termination of this Agreement, the tax representations specified as applicable to it in Schedule 1 to this Agreement.