Fixed Income Clearance; Trade Reporting and Processing Clause Samples

The Fixed Income Clearance; Trade Reporting and Processing clause establishes the procedures and requirements for clearing, reporting, and processing transactions involving fixed income securities. It typically outlines the responsibilities of each party in submitting trade details to relevant clearinghouses or trade repositories, and may specify timelines, formats, and systems to be used for reporting and settlement. By standardizing these processes, the clause ensures efficient and accurate trade execution, reduces operational risk, and helps parties comply with regulatory obligations related to fixed income transactions.
Fixed Income Clearance; Trade Reporting and Processing. It is agreed that you shall be the party in interest for each Fixed Income Clearing Transaction entered into with your trading counterparties (“Executing Counterparty or Counterparties”), and you shall bear any and all risks and costs related to such Fixed Income Clearing Transaction, including non-performance by an Executing Counterparty. Furthermore, you agree that you shall timely provide to ▇▇ ▇▇▇▇▇▇ any securities or money required for ▇▇ ▇▇▇▇▇▇ to complete such transaction and to satisfy any demand for margin made by an Executing Counterparty or ▇▇ ▇▇▇▇▇▇ in respect of a Fixed Income Clearing Transaction. You agree to report the Trade Details (as defined below) of all Fixed Income Clearing Transactions excluding same day settlement transactions) by 6:00 p.m. on the trade date. ▇▇ ▇▇▇▇▇▇ may decline Fixed Income Clearing Transactions reported after such times. Fixed Income Clearing Transactions reported after 6:00 p.m. may be processed the next business day. You agree to be responsible for any costs associated with any fail resulting from late reporting, which may include a one-day, 50-basis-point surcharge to finance the Fixed Income Clearing Transaction and a $100 late fee. ▇▇ ▇▇▇▇▇▇ may, at any time, place a limit (expressed in dollars, positions, or number of units) on the size of transactions that ▇▇ ▇▇▇▇▇▇ will accept for clearance and/or settlement. ▇▇ ▇▇▇▇▇▇ may by notice to you, which may be provided orally, require you immediately to liquidate or otherwise reduce, reverse or hedge a position or account to reduce the amount of your Obligations or ▇▇ ▇▇▇▇▇▇’▇ obligations to third parties or otherwise mitigate risk, and you hereby authorize ▇▇ ▇▇▇▇▇▇ to take such action on your behalf for your account and risk if you fail to comply with ▇▇ ▇▇▇▇▇▇’▇ request.
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