Open Contracts definition
Examples of Open Contracts in a sentence
If the relevant Clearing House and/or Broker does not allocate long Open Contracts at maturity directly to a specific account of ours or to short Client Contracts (or vice versa) we may allocate those Contracts at random or in a way which seems to us to be most equitable as between clients.
Without prejudice to the provisions of clause 3.5 of this Part E, Client’s failure to meet such calls may result in Galaxy International Futures being entitled or obliged by the rules or regulations of the relevant Exchange and/or Clearing House to close out the Open Contracts held on behalf of the Client in respect of which calls have not been met, and/or to notify the relevant Exchange, Clearing House or broker particulars of such Open Contracts.
Galaxy International Securities and/or Galaxy International Futures is obliged to report to the Futures Exchange particulars of all Open Contracts in respect of which the Client has failed on two successive occasions to meet a demand for margin or additional margin or variation adjustments and Galaxy International Securities and/or Galaxy International Futures may close out the Client’s Open Contracts in respect of which any demand for margin or additional margin variation adjustments has not been met.
Without prejudice to the provisions of Clause 10, failure to meet such calls may result in KGI being entitled or obliged by the rules or regulations of the relevant Exchange and/ or Clearing House to close out the Open Contracts held on behalf of the Client in respect of which any Margin calls are not met within the period specified by KGI or at the time of making such call(s), and/or to notify the relevant Exchange, Clearing House, broker or Correspondent Broker particulars of such Open Contracts.
Without prejudice to the foregoing, any termination shall not affect the rights or liabilities of either party arising out of or in connection with any Open Contracts at the time of such termination, including as to Margin, until all such Contracts have been closed out or settlement and/or delivery has been effected and all such liabilities fully discharged.
The Client irrevocably appoints severally ASX Clear, and every director, manager and assistant manager for the time being of ASX Clear, at the option of ASX Clear to do all acts and execute all documents on the Client's behalf for the purpose of exercising the powers conferred on ASX Clear under the ASX Clear Operating Rules including, without limitation, the power to transfer or close out Open Contracts if the Clearing Participant commits an event of default.
Failure to meet such calls may result in KAB being obliged by the rules or regulations of the relevant Exchange and/or Clearing House to close out the Open Contracts held on behalf of the Client in respect of which calls have not been met, and/or to notify the relevant Exchange, Clearing House, Broker or Executing Agent particulars or such Open Contracts.
The Client agrees that in such closing out of Open Contracts on behalf of the Client, the Brokers owes no obligation of whatsoever nature to the Client to minimize or eliminate loss suffered by the Client.
TAI shall purchase the Open Contracts at the TAI truck bid on the Effective Date.
Without prejudice to the provisions of Clauses 10 and 19.12, failure to meet such calls may result in CES Capital (HK) being entitled or obliged by the rules or regulations of the relevant exchange and/or Clearing House to close out the Open Contracts held on behalf of Client in respect of which calls have not been met, and/or to notify the relevant exchange, Clearing House or broker particulars of such Open Contracts.