SwapClear Clearing Member definition

SwapClear Clearing Member or "SCM" means, for the purposes of these Default Fund Rules and the SwapClear Default Fund Supplement, a Clearing Member participating in any part of the SwapClear Service.;
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SwapClear Clearing Member or "SCM" means a Member who is designated by the Clearing House as a SwapClear Clearing Member eligible to clear SwapClear Contracts which includes, in the case of the Default Rules (including the Rates Service DMP Annex), the FCM Default Fund Agreement and any other document, rule or procedure as specified by the Clearing House from time to time, an FCM Clearing Member
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SwapClear Clearing Member means a person who is designated as such by the Clearing House pursuant to the UK General Regulations and who is not an FCM Clearing Member.
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Examples of SwapClear Clearing Member in a sentence

  • Where a SwapClear Clearing Member makes a bid and that SwapClear Clearing Member has an affiliated SwapClear Clearing Member or FCM Clearing Member that does not make a bid, the Clearing House shall not (unless instructed otherwise in accordance with the paragraph below) assume that the bidding SwapClear Clearing Member has made the relevant bid on behalf of a non-bidding, affiliated SwapClear Clearing Member or affiliated FCM Clearing Member.

  • A SwapClear Clearing Member may notify the Clearing House, in advance of an Auction, that it wishes to bid on behalf of an affiliated SwapClear Clearing Member or affiliated FCM Clearing Member.

  • The parties acknowledge that, in the event that a Default Notice is issued by the Clearing House in respect of any SwapClear Clearing Member, the Rates Service DMG Member may be required by the Nominating FCM Clearing Member and/or his employer (if different) to provide certain services to the Clearing House in the management of the default.

  • SwapClear Clearing Members are entitled to bid for an Auction Portfolio on behalf of an affiliated SwapClear Clearing Member or affiliated FCM Clearing Member.

  • Any request pursuant to this paragraph is subject to the Clearing House’s consent in its sole discretion (and the Clearing house may apply a lower percentage than that requested by the SwapClear Clearing Member).

  • General Obligations of the FCM Clearing Member The obligations of an FCM Clearing Member set forth in this Schedule shall only apply in the event such FCM Clearing Member does not have an affiliated SwapClear Clearing Member that has agreed to participate in the Rates Service DMP on behalf of such FCM Clearing Member.

  • The calendars, as applicable to the SwapClear clearing system, will be available online for inspection and for file download from the SwapClear Clearing Member reporting system (see Section 1.1.3).

  • In making any request pursuant to this paragraph, the SwapClear Clearing Member is deemed to represent that it has obtained such consent.

  • A Backloaded Trade which has been presented for clearing (or with respect to which the Clearing House has received the one or more Necessary Consents, if any) shall be deemed to have been submitted by the SwapClear Clearing Member(s) or the SwapClear Clearing Member and the FCM Clearing Member (as the case may be) for registration by the Clearing House at such time that the Clearing House determines that sufficient Collateral has been provided to register that Backloaded Trade.

  • The definitive report of a registered SwapClear Contract will be shown within the SwapClear Clearing Member reporting system (see Section 1.1.3) on the SwapClear Clearing Member reporting account.


More Definitions of SwapClear Clearing Member

SwapClear Clearing Member or "SCM" means a Member who is designated by the Clearing House as a SwapClear Clearing Member eligible to clear SwapClear Contracts which includes, in the case of the Default Rules (including the Rates Service DMP Annex), the FCM Default Fund Agreement and any other document, rule or procedure as specified by the Clearing House from time to time, an FCM Clearing Member "SwapClear Client Clearing Business" means the provision of SwapClear Client Clearing Services by a SwapClear Clearing Member "SwapClear Client Clearing Services" means the entering into of SwapClear Contracts by a SwapClear Clearing Member in respect of its Individual Segregated Account Clearing Clients, Indirect Gross Account Clearing Clients, Custodial Segregated Clients and/or Omnibus Segregated Clearing Clients "SwapClear Contract" means a Contract entered into by the Clearing House with a SwapClear Clearing Member on the SwapClear Contract Terms which includes, in the case of the Default Rules (including the Rates Service DMP Annex but excluding, for the avoidance of doubt, the Client Clearing Annex), the FCM Default Fund Agreement and any other document, rule or procedure as specified by the Clearing House from time to time, an FCM SwapClear Contract "SwapClear Contract Terms" means the terms applicable to each SwapClear Contract as set out from time to time in the Product Specific Contract Terms and Eligibility Criteria Manual "SwapClear Contribution" means an SCM's Contribution provided for under Part A of the Rates Service Default Fund Supplement – SwapClear and shall include any relevant SwapClear Unfunded Contributions and any relevant Supplementary Contribution in respect of the SCM "SwapClear CTM Contract" means a SwapClear Contract that is not a SwapClear STM Contract "SwapClear Dealer Clearing Agreement" means a written agreement, in the form and on the terms prescribed by the Clearing House between a SwapClear Dealer, a SwapClear Clearing Member and the Clearing House "SwapClear Dealer" or "SD" means a person admitted by the Clearing House to the Register of SwapClear Dealers and who has not been removed from the Register "SwapClear Default Fund Supplement" means the Supplement relating to the SwapClear Business
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SwapClear Clearing Member has the meaning specified in the LCH Rules.
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SwapClear Clearing Member means a person who is designated as such by the Clearing House pursuant to the UK General Regulations and who is not an FCM Clearing Member. “SwapClear CTM Contract” has the meaning assigned to it in the General Regulations. “SwapClear Determination Date” has the meaning assigned to it in the UK General Regulations. “SwapClear DMP” has the meaning assigned to it in the SwapClear DMP Annex of the Default Rules. “SwapClear Tolerance” has the meaning assigned to it in Section 2.1.3(c) of the FCM Procedures. "Terminating FCM SwapClear Contracts" means, in relation to any Compression Proposal, the FCM SwapClear Contracts that will be terminated and replaced with Post-Multilateral Compression Contracts in accordance with Regulation 46(n). “Termination Amount” has the meaning assigned to such term in FCM Regulation 37(d)(iv). “Transfer Account” means: (i) in respect of a Receiving Clearing Member, the account in which Transferring SwapClear Contracts or Transferring ForexClear Contracts, as the case may be, are to be registered on behalf of an Eligible Transferee following a transfer pursuant to FCM Regulation 46(q) or FCM Regulation 49(r) and in accordance with the FCM Procedures (which, for the avoidance of doubt, may be a Client Account or a Proprietary Account of the Receiving Clearing Member); and (ii) in respect of a Carrying Clearing Member, the account in which Transferring SwapClear Contracts or Transferring ForexClear Contracts, as the case may be, are to be transferred from an Eligible Transferor following a transfer pursuant to FCM Regulation 46(q) or Regulation 49(r) and in accordance with the FCM Procedures (which, for the avoidance of doubt, may be a Client Account or a Proprietary Account of the Carrying Clearing Member). “Transferring ForexClear Contracts” means those FCM ForexClear Contracts registered in the Transfer Account of a Carrying Clearing Member that are subject to a request to be transferred to the Transfer Account of a Receiving Clearing Member and includes, in the case of a transfer as described in sub-paragraph (ii) of the definition of "Receiving Clearing Member",ForexClear Contracts.
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Related to SwapClear Clearing Member

  • Clearing Agency Participant means a broker, dealer, bank, other financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency.

  • Book-Entry Interest means a beneficial interest in a Global Certificate, ownership and transfers of which shall be maintained and made through book entries by a Clearing Agency as described in Section 9.4.