Segments

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 EventsDescriptionResult
Netting

BME CLEARING BME CLEARING may net transactions according 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).

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.

Partial  Termination or Cancellation of original transactions
Registration of new transaction for the remaining Notional
Totally 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.
b) Trade   identifier of Clearing Member.  
c) Client reference.
d) Clearing Member reference.
e) Netting identifier (NID).

A new operation isn´t generated, the economic terms of the transaction are held.
Cancellation of trades All trades unwind parcial or totally, follow the netting process. Partial Termination or Cancellation of original transactions.
Registration of new transaction for the remaining Notional.
Totally 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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