Manual Compression definition
Manual Compression means the application of a Compression Run in accordance with the process set out in Rule 12.2.1(a)(i) and the remainder of Rule 12.2.1(b) to (h); "Manual Exercise Option Contract" means an Option Contract under which the option shall, if it is to be exercised, be exercised at the direction of the Option Holder (and which is not exercised automatically); "Manual or File Based Compression" means a Manual Compression or a File Based Compression; "Margin Requirement" means the sum of the amounts to be provided by a Member to LME Clear, and maintained by such Member, each day pursuant to Rule 8.1; "Market Value" means at any time the then current market value of an Instrument, Contract, Underlying Asset or Collateral (as the case may be) as determined by reference to the relevant index or metric specified in the Clearing Procedures; "Member" means a person admitted to use the Clearing System in accordance with Rule 3 (Membership) and the Membership Procedure either as a GCM or an ICM; "Member Default" means an instance of a single Member being declared a Defaulting Member by LME Clear pursuant to a Default Notice, due to one or more Default Events relating to that Defaulting Member; "Member Additional DFC at risk" has the meaning set out in Default Procedure C6.6; "Member DFC at risk" has the meaning set out in Default Procedure C6.6; "Member Documentation" means the agreement, documents and instruments which constitute the contractual relationship between a Member and LME Clear including these Rules, the Membership Agreement and any Security Documents; "Member Interface" means the functionality made available to Members via the Website to access Reports and other Member-specific information; "Member Liquidity Requirement" means in relation to a Member an obligation or liquidity requirement of LME Clear incurred in relation to the operation of the Clearing System (including financing unsettled amounts in connection with the settlement of Open Contracts and other items processed through the facilities of LME Clear as a clearing house and/or central counterparty under the Rules and refinancing funds made available by a lender or services provider to LME Clear for the purpose of settling suchtransactions in accordance with the Rules);