ForexClear Clearing Member definition

ForexClear Clearing Member means a person who is designated as such by the Clearing House pursuant to the UK General Regulations and who is not an FCM Clearing Member.
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ForexClear Clearing Member or "FXCCM" means, for the purposes of these Default Fund Rules and the ForexClear Default Fund Supplement, a Clearing Member which engages in ForexClear Business;
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ForexClear Clearing Member means a person who is designated as such by the Clearing House pursuant to the UK General Regulations and who is not an FCM Clearing Member. “ForexClear Contribution” means, in relation to the Default Rules, the meaning assigned to it in rule 16 of the Default Rules. “ForexClear DMP” has the meaning assigned to it in the ForexClear DMP Annex of the Default Rules. “Futures Account Class” means the account class for futures accounts (as defined in CFTC Regulation 190.01(a)(i)) for purposes of Part 190 of the CFTC Regulations and Section 4d(a) of the CEA. “Futures/Options Contract” means the type of contract which is either (i) a contract for the purchase or sale of a commodity for future delivery that is traded on or subject to the rules of an Exchange, (ii) an option on any such contract or (iii) any similar type of contract, and which, in the case of any of the foregoing, is required to be segregated (along with any related margin) pursuant to Section 4d(a) of the CEA if cleared by an FCM for a customer. “Futures Product” means a Product which constitutes a Futures/Options Contract. Such Products are: FCM Nodal Contracts. “Hedged Account” has the meaning assigned to it in the FCM Procedures. “Ineligible FCM ForexClear Contract” has the meaning assigned to it in FCM Regulation 49(e)(ii). “Ineligible FCM ForexClear Transaction” has the meaning assigned to it in FCM Regulation 49(e)(i). “Ineligible FCM SwapClear Contract” has the meaning assigned to it in FCM Regulation 46(f). “Ineligible FCM SwapClear Transaction” has the meaning assigned to it in FCM Regulation 46(f). “Initial Margin” means, with respect to the amount of Margin attributable to a particular account or accounts of an FCM Clearing Member with the Clearing House, the portion of such Margin held in respect of the Clearing House’s initial margin requirements (as published from time to time by the Clearing House) in respect of the relevant FCM Contracts attributable to such account or accounts. “LCH.Clearnet Group” means the group of undertakings consisting of LCH.Clearnet Limited, LCH.Clearnet Group Limited, LCH.Clearnet LLC, LCH.Clearnet (Luxembourg) S.a.r.l., LCH.Clearnet Service Company Limited and Banque Centrale de Compensation
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Examples of ForexClear Clearing Member in a sentence

  • Subject to Clearing House availability, a ForexClear Clearing Member may, via an Approved Trade Source System, present to the Clearing House, in a single submission, a group of two or more ForexClear Transactions for simultaneous registration (such group of ForexClear Transactions being a “Package Transaction”).

  • In the event of a determination by the Clearing House that the relevant step is impossible within such time period (an "Impossibility Determination"), the Clearing House will notify the ForexClear Clearing Member and will not undertake a Client to Client Porting, a Direct Account Opening or an Initial Transfer in respect of the relevant Indirect Clearing Client.

  • A ForexClear Clearing Member may notify the Clearing House, in advance of an Auction, that it wishes to bid on behalf of an affiliated ForexClear Clearing Member.

  • The parties acknowledge that, in the event that a Default Notice is issued by the Clearing House in respect of any ForexClear Clearing Member, the FXDMG Member may be required by the Nominating FXCCM and/or his employer (if different) to provide certain services to the Clearing House in the management of the default.

  • The Clearing House will create two trade records for an FCM ForexClear Transaction which passes the Validation Checks and is accepted for clearing by the Clearing House: one for the FCM ForexClear Contract between the Clearing House and the relevant FX FCM and the other for the FCM ForexClear Contract between the Clearing House and the same or another FX FCM (or, where applicable, the Non-FCM ForexClear Contract between the Clearing House and the relevant ForexClear Clearing Member).

  • Where, following the Default of a ForexClear Clearing Member, the Clearing House is notified of the existence of such a Backup Clearing Member in respect of a ForexClear Clearing Client, the Clearing House is entitled, in accordance with the Client Clearing Annex, to immediately and without notice to any person, send details of the Relevant Contracts and Account Balances to that appointed Backup Clearing Member.

  • Where a ForexClear Clearing Member makes a bid and that ForexClear Clearing Member has an affiliated ForexClear Clearing Member that does not make a bid, the Clearing House shall not (unless instructed otherwise in accordance with the paragraph below) assume that the bidding ForexClear Clearing Member has made the relevant bid on behalf of a non-bidding, affiliated ForexClear Clearing Member.

  • Unless specified otherwise by the Clearing House, a ForexClear Clearing Member must enter into a Security Deed in respect of its Clearing Clients in relation to amounts due to it from the Clearing House pursuant to the Client Clearing Annex.

  • Scope and interpretation 1.1 The Clearing House has established a ForexClear DMP which will apply to ForexClear Contracts following the Default of a ForexClear Clearing Member and in respect of which, for the avoidance of doubt, the Clearing House will have no recourse to the process of invoicing-back.

  • Pursuant to the Clearing House's General Regulations, each ForexClear Clearing Member is required to ensure that it includes certain language in its agreement with its ForexClear Clearing Client (the "Clearing House Prescribed Language").

Related to ForexClear Clearing Member

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

  • Recognised Clearing System means any clearing system listed in Section 246A of the Taxes Act (including, but not limited to, Euroclear, Clearstream Banking AG, Clearstream Banking SA and CREST) or any other system for clearing shares which is designated for the purposes of Chapter 1A in Part 27 of the Taxes Act, by the Irish Revenue Commissioners, as a recognised clearing system.

  • Relevant Clearing System means (i) Euroclear, (ii) Clearstream, Luxembourg, or (iii) any other recognised clearing system in which ETP Securities of a Series may be cleared.

  • Clearing Agency Participant means a broker, dealer, bank, other financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency.

  • Foreign Depository means (a) Euroclear, (b) Clearstream Banking, societe anonyme, (c) each Eligible Securities Depository as defined in Rule 17f-7 under the Investment Company Act of 1940, as amended, identified to the Fund from time to time, and (d) the respective successors and nominees of the foregoing.

  • Clearing Account has the meaning set forth in Section 2.7.1 hereof.

  • Restricted Global Security As defined in Section 3.01(c).

  • Depositary means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 301.