Trading Level definition

Trading Level means the portion of the Portfolio’s net assets allocated to Reference Funds, expressed as a percentage of the Global NAV.

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Trading Level means the amount expressed in US dollars representing the exposure of the Fund to the Investment Program in respect of the Fund Account (including any and all cash and other assets actually held in the Account) as notified to the Sub-Adviser by the Trust or the Adviser from time to time in writing in accordance with Clause 24; As used in this Agreement, the terms “affiliated person,” “assignment,” “control,” “interested person,” “principal underwriter” and “vote of a majority of the outstanding voting securities” shall have the meanings set forth in the 1940 Act and the rules and regulations thereunder, subject to any applicable orders of exemption issued by the Securities and Exchange Commission.

Trading Level means the nominal US Dollar amount upon which the Trading Advisor will determine the number of Instruments to be traded in the Account as instructed by the Master Fund or Manager and adjusted from time to time in accordance with Clause 4.

Examples of Trading Level in a sentence

If the Advisor does not receive any email in accordance with this Paragraph 1(g), the Trading Level for a Fund will remain unchanged regardless of any change in the level of actual funds deposited with the clearing brokers or committed funds that are deposited with any other counterparty of the Fund.
Unless otherwise instructed by CMF, as of the last business day of each month (the “PnL Adjustment Date”) the Advisor will estimate the realized and unrealized profit and loss of each Fund since the previous PnL Adjustment Date and adjust the Trading Level for each Fund accordingly.
The Advisor shall trade each Fund’s assets on the basis of the Trading Level.
The Advisor will not be deemed to be in breach of this Agreement if it is unable to effect a Trading Level Reduction for a Fund, after having made reasonable efforts and after having notified CMF of its inability to comply, in which case (A) the Advisor shall not be liable as a result thereof and (B) the Funds’ and CMF’s sole recourse against the Advisor hereunder is to terminate this Agreement with respect to the applicable Fund with notice under Paragraph 5(b) (a “Trading Level Reduction Event”).
Notwithstanding anything to the contrary in this Paragraph 1(g), the Advisor will use its reasonable efforts to effect a reduction in the Trading Level by CMF promptly under (ii)(D) of this Paragraph 1(g) (a “Trading Level Reduction”) to comply with regulatory restrictions or with margin deposit requirements.
Each Fund and CMF acknowledges that any change in the Trading Level may result in margin calls for a Fund by the clearing brokers and agrees that the respective Fund shall be solely responsible for meeting any such margin calls.
The Trading Level for each Fund shall be determined by CMF in US Dollars and may be adjusted from time to time in accordance with Paragraph 1(g) hereof.
Selling commissions of the Class B Interests will be payable by the particular Series to the applicable broker-dealer based upon a percentage of the month-end Trading Level of each Member’s ownership of Interests subject to such selling commission.
Notwithstanding anything to the contrary in the immediate preceding sentence, the Trading Level for each Fund will be confirmed by CMF as of the first day of each month (the “Confirmation Date”), by CMF sending an email to fundflows@wintoncapit▇▇.▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇ter than 12:00 p.m. (London time) on the first business day prior to the Confirmation Date.
Notwithstanding anything to the contrary in the immediate preceding sentence, the Trading Level will be confirmed by the Manager as of the first day of each month (the “Confirmation Date”), by the Manager sending an email to ▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ to be received no later than midday London time on the second Business Day prior to the Confirmation Date.

More Definitions of Trading Level

Trading Level means the portion of the Portfolio’s net assets allocated to Tracking Assets, expressed as a percentage of the net assets of the Portfolio.

Trading Level of the Trading Fund shall mean the value at which the Trading Advisor is instructed by the Sponsor to trade the Trading Fund. For purposes of clarity, the Trading Level is calculated without regard to, and is not affected by, accrued Management Fees or Performance Fees (if any). The Trading Level generally reflects a “maximum funding factor” determined by the Sponsor and provided to the Trading Advisor each month. The Trading Level shall initially be approximately 2.5 times the sum of the Trading Fund’s Gross Asset Value (as defined below) and the cash reserves of each of the Aspect CS Series, Aspect Series and AlphaMosaic Series (excluding cash held in the account maintained by any such Series for the purpose of reducing such Series’ leverage to a level less than that of the Trading Fund), or such other amount as communicated by the Sponsor to the Trading Advisor, provided that such Trading Level shall not exceed 4 times such sum without the Trading Advisor’s consent. Unless the Sponsor notifies the Trading Advisor otherwise, in the event of additions to or withdrawals from the Trading Fund, the Trading Level shall be automatically adjusted by multiplying it by a fraction, the numerator of which shall be the net asset value immediately after such addition or withdrawal and the denominator of which shall be the net asset value of the Trading Fund immediately prior to such addition or withdrawal.