Netting by Novation. Each Forex trans- action between Customer and IB UK will immediately be netted with all then existing Forex transactions be- tween Customer and IB UK for the same currencies to constitute one transaction. (ii) Payment Netting. If on any delivery date more than one delivery of a cur- rency is due, each party shall aggregate the amounts deliverable and only the difference shall be delivered.
Appears in 2 contracts
Sources: Customer Agreement, Customer Agreement