clearing member
71independent guarantee — A type of guarantee operated by clearing houses where losses caused by clearing member defaults are covered initially from the defaulting clearing member s assets (if any), and then from the clearing house s own resources. There is no guarantee… …
72Customer Type Indicator Codes - CTI — A system that uses four different codes to indicate the types of transactions that, on futures exchanges, are made by brokers on behalf of different clients and themselves. These codes distinguish for whom and on what type of account the trades… …
73variation margin — During periods of great market volatility or in the case of high risk accounts, additional margin deposited by a clearing member firm to an exchange. Chicago Board of Trade glossary margin, gross margin, net margin, security margin, variation… …
74Changer — The name given to a clearing member that is willing to assume the opposite position of a futures contract within a larger alternative exchange, of which it also is a clearing member. A changer commonly refers to clearing members of the CME who… …
75margin call — A call from a clearinghouse to a clearing member, or from a brokerage firm to a customer, to bring margin deposits up to a required minimum level. Chicago Board of Trade glossary A call from the clearinghouse to a clearing member ( variation… …
76firm — Refers to an order to buy or sell that can be executed without confirmation for some fixed period. Also, a synonym for company. Bloomberg Financial Dictionary At CME, it is called a clearing member firm. A company that has membership privileges… …
77OneChicago, LLC — Type Private Industry Securities Futures Exchange Headquarters Chicago, IL, USA Key people …
78mutual guarantee — A type of guarantee operated by clearing houses where losses caused by a clearing members default are covered initially from the defaulting clearing member s assets (if any),and then from the guarantee fund contributed to by the clearing members… …
79Mutual Offset System (MOS) — An inter exchange trading link between CME and the Singapore Exchange (formerly SIMEX), enabling clearing firms to trade specific fungible contracts on both exchanges. Currently, the Eurodollar, Euroyen, Euroyen Libor, and the Japanese Government …
80guarantee fund contributions — Contributions made to a guarantee fund by the clearing members of a clearing house operating a mutual guarantee. The guarantee fund will be used in the event of a default of a clearing member causing losses, and must be exhausted before the… …
