Clearing Rules
BSP Rules Clearing Rules v1.8
BSP Rules Clearing Rules v1.8
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CLEARING RULES<br />
v1.7<br />
Table of Contents<br />
1 Definition of Terms ................................................................................................................. 1<br />
2 General Provisions .................................................................................................................. 9<br />
2.1 Introductory Provisions .................................................................................................... 9<br />
2.2 <strong>Clearing</strong> Participation ...................................................................................................... 9<br />
2.3 Legal Relationships of Involved Parties ........................................................................... 9<br />
2.3.1 Rights and Obligations of the <strong>Clearing</strong> Member ...................................................... 9<br />
2.3.2 Assignment ............................................................................................................. 10<br />
2.3.3 Emergency Measures .............................................................................................. 10<br />
2.3.4 Liability .................................................................................................................... 10<br />
3 Accounts ................................................................................................................................ 13<br />
3.1 Position Accounts ........................................................................................................... 13<br />
3.1.1 Proprietary Position Account .................................................................................. 13<br />
3.1.2 Agent Position Account .......................................................................................... 13<br />
3.1.3 Market Maker Position Account .............................................................................. 14<br />
3.2 Cash Accounts ................................................................................................................ 14<br />
3.2.1 Settlement Account ................................................................................................ 14<br />
3.2.2 Deposit Account ...................................................................................................... 15<br />
3.3 Physical Settlement Domain Account ........................................................................... 15<br />
4 Financial Guarantees ............................................................................................................ 17<br />
4.1 Obligation to Deposit Financial Guarantees ................................................................. 17<br />
4.1.1 Claim for Return of Financial Guarantees ............................................................... 18<br />
4.2 Types of Financial Guarantees ....................................................................................... 18<br />
4.2.1 Initial Financial Guarantee ...................................................................................... 18<br />
4.2.2 Supplementary Financial Guarantee ...................................................................... 19<br />
4.2.3 Current Liquidation Financial Guarantee ............................................................... 19<br />
4.3 Form of Financial Guarantees ........................................................................................ 19<br />
4.3.1 Financial Guarantees in a Form of a Cash Deposit ................................................. 19<br />
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