Part D Cover international

NOS clearing ASA margin

In order to close out a defaulting member’s contracts without residual loss for the clearing house, the clearing house must, at any time, have collected a sufficient margin. The purpose of a margining system is to calculate what this sufficient margin requirement is for each member. To enable a trustworthy clearing operation, the margin requirement should be reasonably conservative to avoid the risk that the clearing house could incur a loss caused by a member default.

Since closing out or neutralizing an account in a default situation can take time, there is a lead-time from the moment default occurs and the time at which NOS is able to close the member’s positions. It is conservatively assumed that it takes from two to five days to close out positions in the event of a default. The lead-time is dependent on the liquidity of the product in question. All members, regardless of their credit-standing, must meet the margin requirements.

Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer THE STOCK EXCHANGE: The clearing House. London, antique print c1880
Home (Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer)
  • Caption below print: The clearing house
  • Condition: Good; suitable for framing. However, please note: Verso text quite apparent in margin; The image shown may have been taken from a different example of...
  • Size: 14.0 x 14.0cm, 5.5 x 5.5 inches (Small)
  • Type & Age: Year printed c1880. Antique wood engraved print
  • Verso: There are images and/or text printed on the reverse side of the picture which are likely to show through the page to some extent because the paper is quite...
Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer LONDON: Clearing House, Lombard St, antique print, 1847
Home (Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer)
  • Caption below print: The Clearing-House, in Lombard-Street
  • Condition: Good; suitable for framing. Please check the scan for any blemishes prior to making your purchase.
  • Size: 14.5 x 23.5cm, 5.75 x 9.25 inches (Medium)
  • Type & Age: Year printed 1847. Antique wood engraved print
  • Verso: There are images and/or text printed on the reverse side of the picture. In some cases this may be visible on the picture itself (please check the scan prior...
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