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Clearing Agreement
I need a Clearing Agreement under Danish law for a new clearing member who will be trading derivatives and commodities, with specific provisions for indirect clearing services and cross-border operations in the Nordic region.
1. Parties: Identification of the clearing house and clearing member
2. Background: Context of the agreement and purpose of the clearing relationship
3. Definitions: Comprehensive definitions of terms used throughout the agreement
4. Membership Requirements: Ongoing requirements for maintaining clearing membership status
5. Clearing Services: Description of clearing services provided and products covered
6. Account Structure: Details of clearing accounts and segregation requirements
7. Margin Requirements: Initial margin, variation margin, and collateral requirements
8. Default Fund Contributions: Requirements for contributions to the clearing house default fund
9. Payment and Settlement: Procedures for payment and settlement of obligations
10. Default Procedures: Actions in event of default and close-out procedures
11. Risk Management: Risk monitoring and management procedures
12. Fees: Clearing fees, payment terms, and other charges
13. Representations and Warranties: Standard and specific representations by both parties
14. Confidentiality: Confidentiality obligations and permitted disclosures
15. Term and Termination: Duration of agreement and termination provisions
16. Governing Law and Jurisdiction: Danish law as governing law and jurisdiction provisions
1. Additional Services: Optional clearing-related services offered by the clearing house
2. Cross-Border Provisions: Required when clearing member operates in multiple jurisdictions
3. Indirect Clearing: Provisions for when clearing member provides clearing services to indirect clients
4. Recovery and Resolution: Special provisions for recovery and resolution scenarios
5. Data Protection: Detailed GDPR compliance section if personal data is processed
6. Tax Provisions: Special tax considerations and requirements if applicable
1. Schedule 1 - Eligible Products: List of products eligible for clearing
2. Schedule 2 - Fee Schedule: Detailed breakdown of all applicable fees and charges
3. Schedule 3 - Operational Procedures: Detailed operational procedures and technical requirements
4. Schedule 4 - Margin Methodology: Detailed methodology for calculating margin requirements
5. Schedule 5 - Account Structure: Detailed description of account types and segregation models
6. Schedule 6 - Default Management Procedures: Detailed procedures for handling defaults
7. Schedule 7 - Forms and Notices: Standard forms and notice templates
8. Appendix 1 - Technical Specifications: Technical requirements for systems connectivity
9. Appendix 2 - Contact Details: List of key contacts and escalation procedures
Authors
Applicable Law
Approved Financial Institution
Banking Day
Business Day
Cash Collateral
Central Counterparty
Clearing
Clearing House
Clearing House Rules
Clearing Member
Clearing System
Close-out
Collateral
Confidential Information
Default Event
Default Fund
Default Management Process
Default Notice
Eligible Collateral
EMIR
Event of Default
Financial Instruments
Force Majeure Event
Governing Law
Indirect Clearing
Indirect Clearing Client
Initial Margin
Insolvency Event
Margin
Margin Call
Market Value
Member Default
Membership Requirements
Non-Cash Collateral
Notice of Default
Omnibus Account
Position
Posted Collateral
Regulatory Authority
Risk Notice
Segregated Account
Settlement
Settlement Bank
Settlement Date
Settlement System
Trading Day
Transaction
Variation Margin
Services
Account Structure
Margin Requirements
Default Fund
Payment and Settlement
Default Procedures
Risk Management
Fees and Charges
Representations and Warranties
Confidentiality
Data Protection
Regulatory Compliance
Force Majeure
Term and Termination
Liability and Indemnification
Assignment and Transfer
Notices
Amendment
Severability
Waiver
Entire Agreement
Third Party Rights
Governing Law
Jurisdiction
Dispute Resolution
Record Keeping
Reporting Requirements
Systems and Technology
Business Continuity
Anti-Money Laundering
Sanctions Compliance
Tax Matters
Operational Requirements
Close-out Netting
Set-off Rights
Information Rights
Emergency Powers
Recovery and Resolution
Financial Services
Banking
Securities Trading
Investment Management
Insurance
Commodities Trading
Energy Trading
Asset Management
Market Infrastructure
FinTech
Legal
Compliance
Risk Management
Operations
Treasury
Trading
Settlement
Client Services
Technology
Finance
Regulatory Affairs
Chief Risk Officer
Head of Clearing
Legal Counsel
Compliance Officer
Operations Director
Risk Manager
Treasury Manager
Head of Trading
Chief Operating Officer
Regulatory Compliance Manager
Settlement Manager
Account Manager
Financial Controller
Head of Legal
Chief Technology Officer
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