Variation Margin Requirement Clause Samples
The Variation Margin Requirement clause obligates parties in a derivatives contract to regularly exchange collateral reflecting changes in the market value of their positions. This clause typically requires daily calculation of exposures and prompt transfer of additional margin if the market moves against a party, ensuring that each side maintains sufficient collateral to cover current risk. Its core function is to mitigate counterparty credit risk by ensuring that unrealized gains and losses are adequately secured as market values fluctuate.
Variation Margin Requirement. If AFEX determines, in its sole discretion, that the net market value of all of Client’s open Orders has declined and the unrealized loss when marked to market exceeds 10% or an alternative percentage or fixed amount as AFEX may advise, of the notional value of the open Orders. Client is required to post with AFEX Variation Margin as stated in the Margin Call issued by AFEX. 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. 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.
Variation Margin Requirement. If Corpay determines, in its sole discretion, that the net market value of all of Client’s open Orders has declined and the unrealised loss when marked to market exceeds 7.5% or an alternative percentage or fixed amount as Corpay may advise, of the notional value of the open Orders, Client is required to post Variation Margin as stated in the Margin Call issued by Corpay. Each time the net market value of all of Client’s open Orders declines and the unrealised loss when marked to market further increases, Corpay 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. Payment of Variation Margin is due on or before the close of business on the next Business Day after the day Corpay issues Margin Call to Client.
Variation Margin Requirement. If Argentex determines, in its sole discretion, that the net market value of all of Client’s open Transactions (i.e., on a portfolio basis) has
Variation Margin Requirement. If Corpay Singapore determines, in its sole discretion, that the net market value of all of Client’s open Orders has declined and the unrealised loss when marked to market exceeds 10% or an alternative percentage or fixed amount as Corpay Singapore may advise, of the notional value of the open Orders, Client is required to post Variation Margin as stated in the Margin Call issued by Corpay Singapore. Each time the net market value of all of Client’s open Orders declines and the unrealised loss when marked to market further increases, Corpay 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. Payment of Variation Margin is due on or before the close of business on the next Business Day after the day Corpay Singapore issues the Margin Call to Client.
Variation Margin Requirement. If Cambridge determines, in its sole discretion, that the net market value of all of Client’s open Orders has declined and the unrealized loss when marked to market exceeds 10% or an alternative percentage or fixed amount as Cambridge may advise, of the notional value of the open Orders, Client is required to post Variation Margin with Cambridge as stated in the Margin Call issued by Cambridge. Each time the net market value of all of Client’s open Orders declines and the unrealized loss when marked to market further increases, Cambridge may issue a Margin Call whereby Client is required to post with Cambridge additional Variation Margin in the amount stated in the Margin Call within one
(1) clear Business Day. Payment of Variation Margin is due on or before the close of business on the next Business Day after the day Cambridge issues Margin Call to Client.
Variation Margin Requirement. If AFEX determines, in its sole discretion, that the net market value of all of Client’s open Orders has declined and the unrealised loss when marked to market exceeds 7.5% or an alternative percentage or fixed amount as AFEX may advise, of the notional value of the open Orders, Client is required to post Variation Margin as stated in the Margin Call issued by AFEX.
Variation Margin Requirement. If CMRM determines, in its sole discretion, that the net market value of all of Client’s open Orders or any other open order Client has with Corpay (including, for the avoidance of doubt, orders with CMC UK) (together “Corpay Orders”) has declined and the unrealized loss when marked to market exceeds 10% or an alternative percentage or fixed amount as CMRM may indicate, of the notional value of the open Corpay Orders, Client is required to post with Corpay Variation Margin as stated in the Margin Call issued by Corpay. Each time the net market value of all of Client’s open Corpay Orders declines and the unrealized loss when marked to market further increases, Corpay 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. Payment of Variation Margin is due on or before the close of business on the next Business Day after the day CMRM issues Margin Call to Client. All Initial Margin and Variation Margin posted to CMRM shall be treated as being held in respect of CMRM’s MiFID business.