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Post-Registration

When transactions have been registered in the CCP, Members may undertake the following explicit actions, provided no term, condition or economic obligation is not changed by the Members, as defined below

Post-Registration Events

Description

Result

Netting

BME   CLEARING BME CLEARING may net transactions accordin to the elegible criteria   for netting in one of two ways                                                          A.- at Transaction level:   Members must state that they wish to carry out netting of their   transactions and positions once they are registered in the clearing house. To   do so, they must identify the Transaction to be netted with an ID number (NID

Parcial

1. Termination or Cancellation of original   transactions

  B.-   at Account level : Transactions will only be nettable if they belong to   the same Account and Sub-account: that is, transactions within the same   Account cannot be netted if the transactions do not belong to the same   sub-account.

2. Registration of new transaction for the   remaining Notional

Totally

1. Termination or Cancellation of original   transactions

Modification   of non-economic data

Refers   modification of some trade economics details as below:                                                                                                                     

a) Trade identifier of the Client.

A new   operation isn´t generated, the economic terms of the transaction are held.

b) Trade   identifier of Clearing Member.  

c) Client reference.

d) Clearing Member reference.

e)Netting identifier (NID).

Cancellation of trades

All trades   unwind parcial or totally, follow the netting process.

Parcial

1. Termination or Cancellation of original   transactions

2. Registration of new transaction for the   remaining Notional

Totally

1. Termination or Cancellation of original   transactions

Portability   and Transfer of Trades

Is the   ability of a Clearing Member to transfer its position and collateral to   another Clearing Member, without close-out or re-register.

A new operation isn´t generated, the economic   terms of the transaction are held. Account ans sub account will   modified.

 

 

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