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What Is the Series 31? The Series 31 is an exam and securities license entitling the holder to sell managed futures funds or supervise those activities. What Is an Associated Person? An associated person is any owner, partner, officer, director, branch manager, or non-clerical or administrative employee of a broker or dealer.
What Is a Commercial Trader? A commercial trader trades on behalf of a business or institution. However, either method requires the customer to enter a trade through an FCM.
Following our example of the company needing to hedge foreign exchange risk, the DCM provides a contract for the company do this. A Counter Party — a trader desiring the opposite position short Japanese Yen — accepts the contract and the trade moves on to the last step in this simplified illustration.
The last part of the trade requires the DCM to send the trade to a Clearing House to be cleared for both parties. The purpose of the Clearing House is to eliminate Counter Party Risk risk that either counterparty defaults on payment of the trade by taking both opposing sides of the trade.
Therefore, if the company that is short Japanese Yen fails to make good on its payment obligation, the Clearing House will pay the company long Japanese Yen, the money the company is owed when it unwinds the trade, and vice-versa.
Swor and Rachel L. Kennedy, Jr. Rinearson and Andrew M. Adler What is an organization required to do in Europe if it engages in Zetoony Computing on the Edge by: Robert M.
Kamer and Aubrey A. Slack and Peter A. Paolillo and Ellen L. Mitchell and F. Delaney and Kristina M. Kahlon and Aron C.
Thomas and Michael P. Neifach and Otieno B. Porzio and Joshua S. Bryan What a Deal! Ferrante and Nathaniel M. Porzio and Elizabeth A. Trading venues can connect to SwapClear via a middleware provider, such as MarkitWire and Traiana, or through our proprietary direct connectivity platform, ClearLink.
Venues may opt to connect through multiple connections via ClearLink. Trading venues are required to complete an extensive onboarding process whether connecting directly or indirectly to the clearing house. A summary of the process and onboarding requirements can be found here :. See below for list of the venues currently onboarded to SwapClear and their connectivity methods:. The workflow below illustrates the trade registration process for a trade executed between a Client and an Executing Broker EB.
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