September 2005
Intermediate to advanced
272 pages
9h 8m
English
Content preview from Clearing and Settlement of Derivatives
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The settlement amount of £200 due to the clearing house is there-
fore receivable from the client. It is important to remember that the
firm that has the clearing account, and the broker at the clearing
house is liable for the settlement of £200 whether or not the client
settled their obligation with the broker.
However, if there had been some kind of error with the trade, for
example the price was given to the client as 20p but the actual trade
in the market was 21p, then the transaction would have shown in
the clearing account and backed off in the error account with a
reversal out of the error
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