Member Compression Cycle definition
Member Compression Cycle means a Multilateral Compression Cycle requested by two or more SwapClear Clearing Members and agreed to by the Clearing House in relation to eligible SwapClear Contracts held by those requesting SwapClear Clearing Members. For the avoidance of doubt, a Member Compression Cycle will not involve any ACSP
Member Compression Cycle means a Multilateral Compression Cycle requested by two
Member Compression Cycle means a Multilateral Compression Cycle requested by two or more SwapClear Clearing Members and agreed to by the Clearing House in relation to eligible SwapClear Contracts held by those requesting SwapClear Clearing Members. For the avoidance of doubt, a Member Compression Cycle will not involve any ACSP “MER Buffer” has the meaning assigned to it in the Procedures "MiFID II" means the recast Markets in Financial Instruments Directive (Directive 2014/65/EU), Regulation (EU) No. 600/2014 of the European Parliament and the Council of 15 May 2014 and all related implementing or supplementary legislation and technical standards, as amended from time to time "Minimum ForexClear Contribution" means USD 5,000,000 "Minimum Non-Tolerance SwapClear Contribution" means £10,000,000 (which, for the avoidance of doubt, excludes the £3,000,000 minimum amount payable by an SCM in respect of the SwapClear Tolerance Contribution Amount); "Minimum RepoClear Contribution" means EUR 2,500,000 "Minimum RepoClear Contribution Member" means an RCM in respect of which the Preliminary RepoClear Contribution calculated under Rule R2 of the RepoClear Default Fund Supplement, is equal to or less than the Minimum RepoClear Contribution for the time being "Minimum SwapClear Contribution Member" means an SCM in respect of which the SwapClear Non- Tolerance Contribution Amount calculated under paragraph(f) of Rule S1 of Part A of the Rates Service Default Fund Supplement is equal to or less than the Minimum Non- Tolerance SwapClear Contribution for the time being "Multilateral Compression" means the exercise in which some or all of the SwapClear Contracts submitted by two or more Compression Clearing Members either on their own account or with respect to a SwapClear Clearing Client, for inclusion in a Multilateral Compression Cycle are wholly terminated and, where relevant, replaced with other SwapClear Contracts "Multilateral Compression Cycle" means the process of Multilateral Compression in accordance with a Compression Proposal, whether by way of an ACSP Compression Cycle or a Member CompressionCycle