Hong Kong Trade Repository – Matching and Confirmation definition
Hong Kong Trade Repository – Matching and Confirmation or “HKTR-MC service” means the matching and confirmation service provided by HKMA for over-the-counter derivatives transactions; “Hong Kong” means the Hong Kong Special Administrative Region; “Hong Kong dollars” or “HK$” means the lawful currency of Hong Kong; “House Account” means a House Position Account or House Collateral Account; “House Business” means Contracts recorded in the House Position Account of a Clearing Member; “House Collateral Account” means, in respect of a House Position Account opened in the name of a Clearing Member, an account opened in the books of OTC Clear for the purposes of recording the type(s) and amount of Collateral attributed by OTC Clear to such House Position Account in accordance with these Clearing Rules; “House Position Account” has the meaning given to it in Clearing Rule 902(1); “Illegality” means due to the adoption of, or any change in, any Applicable Laws after the date on which a Contract is registered by OTC Clear, or due to the promulgation of, or any change in, the interpretation by any court, tribunal or Regulatory Authority with competent jurisdiction of any Applicable Laws after such date, it becomes unlawful for a Clearing Member and/or OTC Clear who are a party to the Contract to perform any absolute or contingent obligation to make a payment or delivery or to receive a payment or delivery in respect of such Contract or to comply with other material provision of the Clearing Documentation and/or Contract Terms; “Increased Risk” has the meaning given to it in Clearing Rule 1510; “Indebtedness” means any obligation (whether present or future, contingent or otherwise, as principal or surety or otherwise) in respect of payment or, repayment of borrowed money (which term shall include, without limitation, deposits and reimbursement obligations arising from drawings pursuant to letters of credit) or any Derivative Transaction; “Information Barrier” means an information barrier established within different divisions of a firm to ensure any and all applicable confidentiality obligation is respected in order to avoid any conflict of interest; “Initial Exchange Amount” has the meaning given to it in the ISDA Definitions;