(b) any commitment by a member to register the respective rights and commitments of LME Clear and its member arising from contracts arising from past or approved transactions or contracts with respect to an indirect customer or client, to an ISA, in order to comply with the provisions of the Level 1 EMIR Regulation and/or the Level 2 EMIR Regulation applicable to that member; or LME Clear provides clearing and settlement services to London Metal Exchange users in all ring, electronics and telephone stores. The application process for new countervailing members may include a due diligence visit to the applicant`s offices. The purpose of this meeting is to discuss the company`s structure and strategy; The volume of activity of the new countervailing member in general and compensation activities in particular (planned and current); Finance, regulation, business processes, banking facilities, risk management (of customers) and all proprietary operations, margining, credit management policy, stress tests and so on. A large number of participants enter our markets as customers of LME members. Non-members who wish to negotiate LME contracts can do so through category 1, 2 and 4 (and member ISV) members of any category offering different levels of service in terms of negotiation and compensation. LME Clear Trades is governed by the LME Clear Rule Book and procedures. This version contains changes made by LME Clear following feedback from members and the Bank of England. All of our current LME Clear members meet at least the following criteria: A full copy of the Membership Application Pack is available below A member can manage one or more separate customer accounts (“ISAs”) with LME Clear as described here. The LME Clear Rules provide for the portability of receivables in the event of a late payment of a member in accordance with LME Clear`s obligations in accordance with EMIR`s Sections 48, paragraphs 5 and 6. The portability rules are defined in Rule 10.7 and the standard part D procedure (porting method). E-commerce (ET) indicates that a member has access to e-commerce services. Once the LME trades are cross-checked on LMEsmart, they are transferred to LME Clear. LME Clear is open to trade registration between 7:30 a.m.
and 8:15 p.m. London time. Small metals and alloys include LME Cobalt, LME Aluminium Alloy and LME NASAAC. In accordance with portability rules, customers assigned to a particular customer account may require that assets and positions registered in that customer account be transferred to a new customer account with a non-insolvent member, in the event that a member of the member state becomes a member by default. Where is the customer account: LME Clear offers a flexible account structure for compensatory members, which meets legal requirements. Cash and hedging accounts are available for domestic activity, omnibus customers and individually separated customers. A compensatory member can have multiple accounts receivable of any type, so that accounts can manage client money (CASS) and securities transfer structures (TTCA). How central counterparties manage the assets of members and customers is one of the priorities of regulators. In Europe, the EMIR regulation was developed to reduce counterparty risk and increase market transparency. Each member is solely and directly responsible for all obligations due to LME Clear with respect to each account created for the member. Each account created by a member must be separated from LME Clear`s books and records, so that the corresponding rights arising from contracts awarded to an account are separated and distinguished from similar rights and liabilities assigned to another account created by the member. A member may hold a large number of different accounts receivable – one or more Omnibus Segregated Client Accounts (OSAs) that record the corresponding claims arising from contracts entered into by the member on behalf of one or more of his clients (unlike the members` own-account contracts).