Clearing Participant definition

Clearing Participant means a person admitted as a participant under the Clearing Rules.

Clearing Participant means a bank or any person who submits a cheque, IBG or FAST to the Clearing House for clearing;

Clearing Participant has the meaning given to such term in the rules of CCASS.

Examples of Clearing Participant in a sentence

• Upon the completion of settlement, the transaction will be reflected in the available balance of the relevant Clearing Participant maintained with its Settlement Participant and/or FPS Ledger Account of the relevant Settlement Participant.

• A Settlement Participant shall give 14 days’ prior written notice to MA and HKICL before it allows an institution to become its Clearing Participant or before it terminates its agreement to allow an institution to become its Clearing Participant.

• For the avoidance of doubt, any party that meets the access criteria of both Settlement Participant and Clearing Participant as provided in Rules 4.2.1 to 4.2.4 must become a Settlement Participant and, in addition, may opt to become a Clearing Participant.

• If it is necessary to adjust the available balance of a Clearing Participant, its Settlement Participant should do so in accordance with the FPS Operating Procedures.

• Settlement of a Credit Transfer Instruction will be effected across the books of MA pursuant to Rule 3.1.5 by debiting the FPS Ledger Account of the payer Participant (or if the payer Participant is a Clearing Participant, the FPS Ledger Account of its Settlement Participant) for the funds transferred and crediting the same to the FPS Ledger Account of the payee Participant (or if the payee Participant is a Clearing Participant, the FPS Ledger Account of its Settlement Participant).

More Definitions of Clearing Participant

Clearing Participant has the meaning given to such term in the rules of the Central Clearing and Settlement System of Hong Kong; 「結算參與人」之涵義與其在香港中央結算系統相關規例中保持一致；

Clearing Participant means a person that CHO has allowed to be a clearing participant in the Clearing House in accordance with the C&S Rules;

Clearing Participant means a person admitted as a participant under the ASX Clear Rules.

Clearing Participant means either a General Clearing Participant or a Direct Clearing Participant, recognised as such by EuroCCP under the conditions set out in article 4;

Clearing Participant means a participant (other than a Settlement Participant that has access to the FPS Facilities) which has agreed with a Settlement Participant that such participant’s payments will be settled through that Settlement Participant’s FPS Ledger Account; such participant in relation to the Settlement Participant with whom it has agreed to settle its payments shall be referred to as “its Clearing Participant”.

Clearing Participant has the meaning given to such term in the rules of the Central Clearing and Settlement System of Hong Kong.

Clearing Participant s Client” shall mean a legal entity or an individual registered by the Clearing House as a client of a Clearing Participant in accordance with these Clearing Rules.