Clearing Exception definition

Clearing Exception means an exception from the clearing requirement set forth in Section 2(h)(1) of the Act because one counterparty to the transaction is entitled to the exception from the clearing requirement set forth in Section 2(h)(7) of the Act, CFTC Regulations or CFTC Staff No- Action Letters.
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Clearing Exception means an exception to, or an exemption from, the Clearing Requirement, which exception or exemption is set forth in Section 2(h)(7) of the CEA, CFTC Regulations or any CFTC No-Action Letter.
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Examples of Clearing Exception in a sentence

  • An Order for a Clearing Exempt Transaction will be rejected if an applicable Clearing Exception Form is not on file with BSEF.

  • RULE 522.D. Execution of Swaps Subject to the Clearing Exemption No Participant shall enter into a Clearing Exempt Transaction unless it (or its Account or Customer) or its Counterparty can claim a Clearing Exception with respect to such Clearing Exempt Transaction.

  • Each Participant wishing to execute any Clearing Exempt Transaction on the SEF operated by BSEF must submit to BSEF documentation demonstrating its eligibility (or the eligibility of its relevant Client or Customer, if applicable) for a Clearing Exception (a “ Clearing Exception Form”) required by CFTC Regulations or CFTC Staff No-Action Letters prior to sending an RFQ or placing an Order subject to the Clearing Exception.

  • Each Participant must comply with the conditions of the applicable Clearing Exception.

  • A Participant shall submit to BSEF all documentation supporting its eligibility (or the eligibility of its relevant Client or Customer, if applicable) for the Clearing Exception.

  • Eligibility for Clearing Exempt Transactions (a) Each Participant wishing to execute any Clearing Exempt Transaction on the SEF operated by BSEF must submit to BSEF documentation demonstrating its eligibility (or the eligibility of its relevant Client or Customer, if applicable) for a Clearing Exception (a “Clearing Exception Form”) required by CFTC Regulations or CFTC Staff No-Action Letters prior to sending an RFQ or placing an Order subject to the Clearing Exception.

  • Eligibility for Clearing Exempt Transactions Each Participant wishing to execute any Clearing Exempt Transaction on the SEF operated by BSEF must submit to BSEF the documentation required by Part 50 of the CFTC Regulations or CFTC Staff No-Action Letter 13-22 (each a “Clearing Exception Form”) prior to sending an RFQ or placing an Order subject to the Clearing Exception.

  • Upon request of the SEF, a Participant, Sponsored Participant, Customer or Client shall submit to the SEF all documentation supporting eligibility for the applicable Clearing Exception.

  • Upon request of the SEF, a Participant shall submit to the SEF all documentation supporting its (or, if applicable, its Customer, Client or Sponsored Participant’s) eligibility for the End-User Clearing Exception.

  • No Participant shall enter into an End-User Exempt Transaction unless it (or, if applicable, its Customer, Client or Sponsored Participant) or the counterparty to the Swap is eligible for and elects to rely on the End-User Clearing Exception.

Related to Clearing Exception

  • Clearing System means Monte Titoli S.p.A., with offices in Piazza degli Affari no. 6, Milan, Italy ("Monte Titoli").

  • Clearing Firm means an entity that meets the requirements of clearing membership at a Clearing House that clears Trades in any or all of the MarketAxess SEF Swaps and is authorized to submit Trades for clearing to the Clearing House.

  • Global warming potential means how much a given mass of a chemical contributes to global warming over a given time period compared to the same mass of carbon dioxide. Carbon dioxide's global warming potential is defined as 1.0.

  • Relevant Clearing System means (i) Euroclear, (ii) Clearstream, Luxembourg, or (iii) any other recognised clearing system in which ETP Securities of a Series may be cleared.

  • Clearing Member means a registered broker-dealer which is a clearing member under the rules of O.C.C. and a member of a national securities exchange qualified to act as a custodian for an investment company, or any broker-dealer reasonably believed by the Custodian to be such a clearing member.

  • Clearing System Business Day means in relation to an Index, any day on which the principal domestic clearing systems customarily used for settling trades in securities comprising such Index is (or, but for the occurrence of an event beyond the control of the Company or the Hedging Counterparty as a result of which such clearing system cannot clear the transfer of such securities, would have been) open for the acceptance and execution of settlement instructions.

  • Foreign Depository means (a) Euroclear, (b) Clearstream Banking, societe anonyme, (c) each Eligible Securities Depository as defined in Rule 17f-7 under the Investment Company Act of 1940, as amended, identified to the Fund from time to time, and (d) the respective successors and nominees of the foregoing.