Examples of Designated Clearing Member in a sentence
If no Designated Clearing Member is identified at the time when a Clearing Member’s default event occurs, pursuant to Article B.6.1.1, paragraph 1, the Clients may sign the agreement envisaged in the preceding paragraph and the Clearing Member has to send this agreement to CC&G as soon as it is finalised and, in any event, within 3 hours after the default event.
For the Trading Client, the Designated Clearing Member must also transmit the agreement as indicated in the above Part 2.3. 2.
The Designated Clearing Member must also provide CC&G with evidence of the factthat the Contractual Positions being transferred refer to all the Clientsof the “omnibus client” account.
The Designated Clearing Member may operate only if it has entered into an " Agreement between Clearing Member – Client-Company” (Minimum Clauses) with the Client-Company pursuant to the provisions of the Regulations.
The Designated Clearing Member shall take on the role of General Clearing Member from the transfer to him of Contractual Positions and guarantees of the Trading Client.