Examples of Auction Portfolio in a sentence
SwapClear Clearing Members are entitled to bid for an Auction Portfolio on behalf of an affiliated SwapClear Clearing Member or affiliated FCM Clearing Member.
Bids shall be submitted as a price at which the relevant Invited Bidder is willing to take on a specified percentage of the Auction Portfolio, and all bids will be ranked in accordance with the price per percentage represented by that bid.
The relevant Non-Defaulting SCMs (in respect of each OTC Auction Portfolio) and Non-Defaulting Joint Rates Service Clearing Members (in respect of each Basis Portfolio) will submit bids to the Clearing House representatives on the Rates Service DMG, who will ensure that the identities of the bidders are not revealed to the Rates Service Clearing Member representatives on the Rates Service DMG.
Bids may be submitted for the entire Auction Portfolio or for a percentage of the Auction Portfolio.
As part of the Rates Service DMP, the Clearing House may divide an Auction Portfolio into two or more individual Auction Portfolios.
Auction Losses will be attributed to an individual SwapClear Short Bidder pursuant to this sub-paragraph (ii) based upon the proportion that (a) the variance of the bid of such SwapClear Short Bidder from the winning bid (denominated in units of the relevant Auction Portfolio Currency) bears to (b) the sum of the variances of the bids of all SwapClear Short Bidders from the winning bid (denominated in units of the relevant Auction Portfolio Currency).
The Clearing House shall notify each Invited Bidder of all details that may be reasonably required in relation to an Auction Portfolio prior to the relevant Auction.
In the case of an Auction in which no bid is accepted or received (as the case may be), or in which the bids accepted by the Clearing House are for less than the whole Auction Portfolio, subject to paragraph (i) below, one or more further Auctions may, at the discretion of the Clearing House, be held in relation to the relevant Auction Portfolio or that part of the Auction Portfolio which remains.
The Clearing House shall, in its discretion, but after consultation with the Fixed Income DMG, identify up to 15 Non-Defaulting RCMs who will be invited to bid in each Auction (the " Invited Bidders") and shall invite such Invited Bidders to submit bids for such Auction Portfolio.
In the case of an Auction in which no bid is accepted or received (as the case may be), one or more further Auctions will be held in relation to the relevant Auction Portfolio.