Section 155 Market contracts.I1

“clearing member client contract” means a contract between a recognised central counterparty and one or more of the parties mentioned in subsection (1A) which is recorded in the accounts of the recognised central counterparty as a position held for the account of a client, an indirect client or a group of clients or indirect clients;

“clearing member house contract” means a contract between a recognised central counterparty and a clearing member recorded in the accounts of the recognised central counterparty as a position held for the account of a clearing member;

“client trade” means a contract between two or more of the parties mentioned in subsection (1A) which corresponds to a clearing member client contract;

“market contracts” means the contracts to which this Part applies by virtue of subsections (2) to F2(3ZA).

a clearing member;

a client; and

an indirect client.

contracts entered into by a member or designated non-member of the exchange F5with a person other than the exchangewhich are either

contracts entered into by the exchange, in its capacity as such, with a member of the exchange or with a recognised clearing house F8or with a recognised CSD or with another recognised investment exchange for the purpose of enabling the rights and liabilities of that member F9or recognised body under a transaction to be settled; and

contracts entered into by the exchange with a member of the exchange or with a recognised clearing house or with a recognised CSD or with another recognised investment exchange for the purpose of providing central counterparty clearing services to that member or recognised body.

clearing member house contracts;

clearing member client contracts;

client trades, other than client trades excluded by subsection (2C) F12or (2D); and

contracts entered into by the recognised central counterparty with a recognised investment exchange F13or with a recognised CSD or a recognised clearing house for the purpose of providing central counterparty clearing services to F14that recognised body.

the clearing member which is a party to the clearing member client contract corresponding to the client trade defaults; and

the clearing member client contract is not transferred to another clearing member within the period specified for this purpose in the default rules of the recognised central counterparty.

the client trade was entered into by a client in the course of providing indirect clearing services to an indirect client;

the client defaults; and

the clearing member client contract corresponding to the client trade is not transferred within—

contracts entered into by the clearing house, in its capacity as such, with a member of the clearing house or with a recognised investment exchange F18or with a recognised CSD or with another recognised clearing house for the purpose of enabling the rights and liabilities of that member F19or recognised body under a transaction to be settled; and

contracts entered into by the clearing house with a member of the clearing house or with a recognised investment exchange F20or with a recognised CSD or with another recognised clearing house for the purpose of providing central counterparty clearing services to that member F21or recognised body.

the services provided by a recognised investment exchange or a recognised clearing house to the parties to a transaction in connection with contracts between each of the parties and the investment exchange or clearing house (in place of, or as an alternative to, a contract directly between the parties),

the services provided by a recognised clearing house to F24a recognised body in connection with contracts between them, or

the services provided by a recognised investment exchange to F25a recognised body in connection with contracts between them.

F27the making of a bankruptcy application or the presentation of a bankruptcy petition or a petition for sequestration of a client’s estate, or

the application for an administration order or the presentation of a winding-up petition or the passing of a resolution for voluntary winding up, or

the appointment of an administrative receiver.

in a case where an administrator is appointed under paragraph 14 or 22 of Schedule B1 to the Insolvency Act 1986 (appointment by floating charge holder, company or directors) following filing with the court of a copy of a notice of intention to appoint under that paragraph, the filing of the copy of the notice, and

in a case where an administrator is appointed under either of those paragraphs without a copy of a notice of intention to appoint having been filed with the court, the appointment of the administrator.

the core services listed in Section A of the Annex to the CSD regulation which that central securities depository is authorised to provide pursuant to Article 16 or 19(1)(a) or (c) of the CSD regulation;

the non-banking-type ancillary services listed in or permitted under Section B of that Annex which that central securities depository is authorised to provide, including services notified under Article 19 of the CSD regulation; and

the banking-type ancillary services listed in or permitted under Section C of that Annex which that central securities depository is authorised to provide pursuant to Article 54(2)(a) of the CSD regulation.