Indirect Net Account definition

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 Net Segregated Clients
Sample 1Sample 2Sample 3
Indirect Net Account means, in relation to a Relevant Client Clearing Business, an
Sample 1

Examples of Indirect Net Account in a sentence

  • In the case of each kind of account of the Defaulter which is an Omnibus Segregated Account (other than a Non-Identified Client Omnibus Net Segregated Account or an Indirect Net Account), the sum finally payable in respect of that kind of account following completion of the process set out in Rule 8 will be allocated by the Clearing House (pro rata as it sees fit in its sole discretion) between the Clearing Clients in that Omnibus Segregated Account.

  • In the case of each kind of account of the Defaulter which is a Non-Identified Client Omnibus Net Segregated Account or an Indirect Net Account, the sum finally payable in respect of that kind of account following completion of the process set out in Rule 8 will represent the aggregate entitlements of all Clearing Clients comprising that Client Account.

  • A total population of 187,820 was recorded for the last census in 2011, distributed across 362 villages.

  • The Clearing House will provide the Aggregate Indirect Net Account Client Clearing Entitlement to the defaulter's insolvency officer, rather than providing it directly to the relevant clients.

  • For example, porting of Listed Interest Rates Contracts and associated collateral from a LIR Clearing Member which is a Defaulter to a Backup Clearing Member may be less likely to succeed in respect of an OSA compared with an ISA, or in respect of an Indirect Net Account compared with an Indirect Gross Account.

  • Indirect Net Account (" INA") – This type of account is opened in respect of clients (1) whose identities have not been recorded by the Clearing House in accordance with its procedures, and (2) who are each providing clearing services to their own clients.

  • The Clearing House will provide the Aggregate Omnibus Client Clearing Entitlement to the defaulter's insolvency officer, rather than providing it directly to the relevant clients; and (ii) an INA (which has not become an IOSA as described above), the Clearing House will calculate a single Aggregate Indirect Net Account Client Clearing Entitlement in respect of all clients sharing in the relevant account on a collective basis.

  • The Aggregate Indirect Net Account Client Clearing Entitlement represents the aggregateentitlement of those clients to amounts due in respect of the close out values of their positions and to the collateral (or its liquidation value) held in the relevant account, after deducting certain amounts including the costs of hedging and liquidating the relevant positions.

  • For example, porting of EquityClear Contracts and associated collateral from an ECM which is a Defaulter to a Backup Clearing Member may be less likely to succeed in respect of an OSA compared with an ISA, or in respect of an Indirect Net Account compared with an Indirect Gross Account.

  • The forming voltage can be up to 30% higher than the actual nominal voltage of the capacitor.

Related to Indirect Net Account

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

  • Indirect Losses means loss of profits, loss of production, loss of business, loss of business opportunity, or any claim for consequential loss or for indirect loss of any nature;

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

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

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

  • 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.

  • Indirect cost means any cost not directly identified with a single final cost objective, but identified with two or more final cost objectives or with at least one intermediate cost objective.

  • Financial Account means an account maintained by a Financial Institution, and includes:

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

  • Indirect Ownership Interest means an ownership interest in an entity that has an ownership interest in another entity. Indirect ownership interest includes an ownership interest in an entity that has an indirect ownership interest in another entity.

  • 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.

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Indirect Costs has the same meaning as in 44 Ill. Admin. Code Part 7000.

  • 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.

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

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

  • Holding Account means an account:

  • Indirect Depository Participant An institution that is not a Depository Participant but clears through or maintains a custodial relationship with Participants and has access to the Depository's clearing system.

  • Merchant Account means any account with an Acquirer or other Financial Institution, service provider, payment processor, independent sales organization, or other entity that enables an individual, a business, or other organization to accept payments of any kind.

  • Indirect Tax means any goods and services tax, consumption tax, value added tax or any tax of a similar nature.

  • 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.

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

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

  • Investment Account As defined in Section 3.12(a).

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

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