Open Leg definition
Open Leg. – means, with respect to an SGC Repurchase Transaction, the first part of a Repurchase Transaction where the SGC Clearing Member agrees to sell SGC Securities to the Trust at a Purchase Price to be paid by the Trust to the SGC Clearing Member.
Open Leg. – means, with respect to a Repurchase Transaction, the first part of a Repurchase Transaction where either (i) a Repo Party agrees to sell Acceptable Securities to a Reverse Repo Party at a Purchase Price to be paid by the Reverse Repo Party to the Repo Party, or (ii) a Reverse Repo Party agrees to buy Acceptable Securities from a Repo Party at a Purchase Price to be paid to the Repo Party by the Reverse Repo Party.