Indirect Gross Account definition

Indirect Gross Account means, in relation to a Relevant Client Clearing Business, an account opened within the Clearing House by a Clearing Member which (i) enables such Clearing Member to distinguish the assets and positions held for the account of an Indirect Gross Account Clearing Client from the assets and positions held for the account of its other clients, (ii) is opened by such Clearing Member for the purpose of providing Client Clearing Services to such Indirect Gross Account Clearing Client who is, in turn, providing clearing services to its Indirect Clearing Clients, and (iii) is designated by the Clearing House as an Indirect Gross Account"Indirect Gross Account Balance"means, in respect of an Indirect Gross Account Clearing Client, the Clearing Member Current Collateral Balance of the Indirect Gross Account held by the relevant Clearing Member on behalf of such Indirect Gross Account Clearing Client (together with any receivables, rights, intangibles and any other collateral or assets deposited or held with the Clearing House in connection with such account)"Indirect Gross Account Clearing Client"means a Clearing Client in respect of whom the relevant Clearing Member clears Contracts with the Clearing House in an Indirect Gross Account"Indirect Gross Sub-Account"means, in respect of an Indirect Gross Account, a segregated sub-account of such Indirect Gross Account, which is established on the books of the Clearing House for the purpose of recording Contracts which (i) the relevant Clearing Member has entered into with the Clearing House in respect of the relevant Indirect Gross Account Clearing Client, and (ii) are referable to a particular Indirect Clearing Client of such Indirect Gross Account Clearing Client"Indirect Net Account"means, in relation to a Relevant Client Clearing Business, an Omnibus Segregated Account which is (i) opened by a Clearing Member for the purpose of providing Client Clearing Services to one or more Indirect Net Account Clearing Clients who are, in turn, providing clearing services to their Indirect Clearing Clients, and (ii) designated by the Clearing House as an Indirect Net Account, but, for the avoidance of doubt, does not include any Omnibus Segregated Account comprising Determined Omnibus NetSegregated Clients
Sample 1Sample 2Sample 3
Indirect Gross Account means, in relation to a Relevant Client Clearing Business, an
Sample 1

Examples of Indirect Gross Account in a sentence

  • The Clearing House will determine, in respect of each Indirect Clearing Client comprising the Indirect Gross Account, whether a Client to Client Porting, a Direct Account Opening or an Initial Transfer (as applicable) is possible within the period of time considered by the Clearing House (in its sole discretion) to be appropriate in the relevant circumstances.

  • Separate initial margin calculations are performed for an SCM's Proprietary Accounts and for each Individual Segregated Account, Custodial Segregated Account, Omnibus Segregated Account (other than an Omnibus Gross Segregated Account), and Indirect Gross Sub-Account within an Indirect Gross Account.

  • SwapClear Client Clearing Services are provided to SwapClear Clearing Clients through an Individual Segregated Account, an Indirect Gross Account, a Custodial Segregated Account or an Omnibus Segregated Account.

  • Notwithstanding the foregoing, in no circumstances may an account which is an Individual Segregated Account of the Defaulter, an Indirect Gross Account of the Defaulter, a Custodial Segregated Account of the Defaulter or an Omnibus Segregated Account of the Defaulter be combined with any other account of the Defaulter (except as provided under Rule 15(a)(ii)).

  • On the first day that Clearing Clients become Non-Porting Clients, gains and losses in the Hedged Account on such day shall be allocated on a pro rata basis among each such Non- Porting Client (and, in respect of a Non-Porting Client that is an Indirect Gross Account Clearing Client, among each Indirect Gross Sub-Account within the relevant Indirect Gross Account) based on the Account Class Risk Factor referable to each such Non-Porting Client and (where applicable) Indirect Gross Sub- Account.

  • For these purposes, liabilities in respect of the open ForexClear Contracts and ForexClear Transactions registered in an FXCCM's Proprietary Account, each of the FXCCM's Client Accounts (other than Indirect Gross Accounts) and each Indirect Gross Sub-Account within an Indirect Gross Account of such FXCCM will be calculated separately.

  • Separate initial margin calculations are performed for an FXCCM's Proprietary Account, each Client Account (other than an Indirect Gross Account) and each Indirect Gross Sub- Account within an Indirect Gross Account.

  • A single separate calculation in respect of the variation margin or NPV Payment owed by or to the relevant FXCCM is performed for that FXCCM's Proprietary Account, each Client Account (other than an Indirect Gross Account) and each Indirect Gross Sub-Account within an Indirect Gross Account.

  • Upon registration in a Clearing Member's Proprietary Account, a Client Account (other than an Indirect Gross Account) or an Indirect Gross Sub-Account within an Indirect Gross Account (as applicable), an EquityClear (ccCFD) Contract will be netted with any existing EquityClear (ccCFD) Contract for the same underlying instrument.

  • Separate initial and variation margin calculations are performed for an EquityClear Clearing Member's Proprietary Account, each Client Account (other than an Indirect Gross Account) and each Indirect Gross Sub-Account within an Indirect Gross Account.

Related to Indirect Gross Account

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Direct Account : means any Account which is not an ISA Account.

  • Joint Account means an Account opened in more than one name;

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Omnibus Account means any Shareholder Account the record owner of which is a registered broker-dealer which has agreed with the Transfer Agent to provide sub-transfer agent functions relating to each Sub-shareholder Account within such Shareholder Account as contemplated by this Schedule I in respect of each of the Funds.

  • Project Accounts means the accounts referred to in Section 3.03 (a) of this Agreement;

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Separate Accounts means the accounts which are to be prepared for each

  • Merchant Account means an account used to submit credit card or debit card transactions or process credit card or debit card transactions.

  • Seller’s Account means such account as the Seller may specify to the Guarantor from time to time;

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Controlled Deposit Account means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104).

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

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

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Concentration Account has the meaning provided in Section 6.13(c).