Examples of Clearing Firm in a sentence
Positions held by a Clearing Firm that is an FCM or its separately organized Affiliates in a Customer discretionary account or in a guided account program shall not be aggregated for position limit purposes, provided that the account meets the standards set forth in CFTC Regulation 150.4(d).
Chelsea Financial has an agreement with its clearing firm (“BD Clearing Firm”), which is also a Custodian, under which Clients may open accounts through Chelsea Financial and obtain the services of BD Clearing Firm at reduced rates.
Chelsea Client Accounts are not otherwise charged commissions or transaction charges by Chelsea Financial or BD Clearing Firm, though BD Clearing Firm may assess other charges, such as for account maintenance or wire fees, in accordance with its current fee schedule.
At the time of submitting an RFQ or Order for any MarketAxess SEF Swap that is intended to be cleared, a Person must designate a Clearing Firm to clear the Trade.
BD Clearing Firm processes Chelsea’s fees, deducts its own fees, and then remits the balance to Xxxxxxx.