Cross-Margining Agreement definition

Cross-Margining Agreement means the NYPC Cross-Margining Agreement, as it may be amended from time to time, entered into between the Clearinghouse and FICC and providing for participation by the Clearinghouse, FICC, Joint Clearing Members and Cross-Margining Affiliates in an arrangement providing for the cross-margining of Contracts cleared by the Clearinghouse with interest rate instruments cleared by FICC.
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Cross-Margining Agreement means the agreement between the Company and FICC, dated on or prior to the Outside Date, whereby joint clearing members (and pairs of affiliated clearing members), having deposited margin collateral and pledged positions in futures contracts and options on futures contracts and positions in interest rate instruments (including repurchase agreements and reverse repurchase agreements) that are cleared by the Company and FICC, respectively, elect to have the positions that are cleared by the Company and FICC combined and margined as a single account based upon the net risk presented by the contracts carried in the clearing member’s (or pair of affiliated clearing members’) accounts at the Company and FICC.
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Cross-Margining Agreement means the NYPC Cross-Margining Agreement, dated as of
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Examples of Cross-Margining Agreement in a sentence

  • A Cross-Margining Participant may terminate its participation under this Cross-Margining Agreement (and that of its Cross-Margining Affiliate, if any) upon two Business Days’ prior written notice to CME and NYMEX, if applicable; provided, however, that no such termination shall be effective so long as any Cross-Margining Reduction or Guaranty with respect to that Cross-Margining Participant or its Cross-Margining Affiliate is outstanding between and CME and NYMEX.

  • The initial spread priorities between Eligible Products for purposes of this Cross-Margining Agreement (referred to herein as the “Cross Margin Spread”) are set forth in Appendix B to this Agreement.

  • Each Clearing Organization shall furnish to the other such additional information as the other Clearing Organization may reasonably request in relation to the Cross-Margining Agreement.

  • Such election shall be subject to the approval of the Clearinghouse and FICC and shall remain in effect until the applicable Clearing Member Cross-Margining Agreement is terminated in accordance with its terms.

  • By: _ Print Name: Title: Cross-Margining or Other Loss Sharing Arrangements of CME: Agreement With or Without Priority Over this Agreement After Guaranty Payment is Made CME/OCC/NYCC Cross-Margining Agreement dated June 7, 1993.

  • FIXED INCOME CLEARING CORPORATION By: [Title/name] NEW YORK PORTFOLIO CLEARING, LLC By: [Title/name] NYPC Cross-Margining Agreement The undersigned (“Member”) is a Clearing Member of Fixed Income Clearing Corporation (“FICC”) and a Clearing Member of New York Portfolio Clearing, LLC (“NYPC”).

  • Member acknowledges and agrees that either FICC or NYPC may terminate, suspend or otherwise cease to act for Member in accordance with the applicable Rules and that, in such an event, FICC and NYPC may liquidate Member’s Clearing Member Cross-Margining Accounts and any assets held in the Clearing Member Cross-Margining Accounts on behalf of such Member in accordance with the Cross-Margining Agreement and the Rules.

  • Cross-Margining or Other Loss Sharing Arrangements of CME: CME/BOTCC Cross-Margining Agreement dated April 15, 1999 No CME/GSCC Cross-Margining Agreement dated July 24, 2001 No CME/LCH Cross-Margining Agreement dated March 24, 2000 No CME/OCC/NYCC Cross-Margining Agreement dated June 7, 1993 No Cross-Margining or Other Loss Sharing Arrangements of NYMEX: NONE.

  • Without limiting the generality of the foregoing, Member unconditionally promises immediate payment of its payment or reimbursement obligations to the Clearing Organization arising under the Cross-Margining Agreement or such Clearing Organization’s Rules in respect of the Set of Clearing Member Cross-Margining Accounts.

  • For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Member agrees to be bound by the FICC Rules and the NYPC Rules applicable to Clearing Members participating in cross-margining arrangements and by the provisions of the Cross-Margining Agreement, as the foregoing may be in effect from time to time.