Collateral Service Provider definition
Collateral Service Provider means a financial institution (in particular a Central Securities Depositary or bank) that was appointed and mandated by a Member, within the scope of the options set by X-CLEAR / for the purpose of providing Inter-CCP Collateral, to accept the Permissible Collateral of this Member / the Inter-CCP Collateral of X-CLEAR and to maintain the Collateral Account(s) held in the name of the Member / X-CLEAR;
Collateral Service Provider means a Central Securities Depository or bank that was appointed and mandated by a Member, within the scope of the options set by SIX x- clear, to accept the Permissible Collateral of this Member and to maintain the Collateral Account(s).
Examples of Collateral Service Provider in a sentence
Promptly after a transfer by the Collateral Service Provider (in accordance with the terms of the relevant Collateral Service Agreement) of Securities, and receipt by the Custodian from the Collateral Service Provider of all information necessary for the Custodian to record such transfer in its books, the Custodian shall record such transfer in the relevant Securities Account.