Fellow Client Yes Yes No Risk Liquidation Risk Yes (unless the CCP is able to port the Yes (unless the CCP is able to port the Yes (unless the CCP is able to port the assets assets recorded in the account or is able to assets recorded in the account or is able to recorded in the account or is able to transfer transfer the assets to you without needing transfer the assets to you without needing to the assets to you without needing to to liquidate some or all of them first). liquidate some or all of them first). liquidate some or all of them first). Haircut Risk Yes Yes Yes Valuation Yes Yes No Mutualisation Risk CCP Insolvency Yes Yes Yes Risk How likely it is There is a significant risk that porting will There is a significant risk that porting will If you have satisfied all of the and CCP’s not be achieved in respect of positions and not be achieved in respect of positions and back-up clearing that porting will member’s conditions, be achieved if we assets recorded in a Net Omnibus Client assets recorded in a Gross Omnibus Client porting is more readily facilitated in the default? account. account. event of our default. Additional features that may be available for Individual Client Accounts Some CCPs may offer additional Individual Client Accounts with special features that have been designed to mitigate certain of the risks identified under
Fellow Client Risk Yes Yes No Liquidation Risk Yes (unless the CCP is able to port the assets recorded in the account or is able to transfer the assets to you without needing to liquidate some or all of them first). Yes (unless the CCP is able to port the assets recorded in the account or is able to transfer the assets to you without needing to liquidate some or all of them first). Yes (unless the CCP is able to port the assets recorded in the account or is able to transfer the assets to you without needing to liquidate some or all of them first). Haircut Risk Yes Yes Yes Valuation Mutualisation Risk Yes Yes No CCP Insolvency Risk Yes Yes Yes How likely it is that porting will be achieved if we default? There is a significant risk that porting will not be achieved in respect of positions and assets recorded in a Net Omnibus Client account. There is a significant risk that porting will not be achieved in respect of positions and assets recorded in a Gross Omnibus Client account. If you have satisfied all of the CCP’s and back-up clearing member’s conditions, porting is more readily facilitated in the event of our default. Additional features that may be available for Individual Client Accounts Some CCPs may offer additional Individual Client Accounts with special features that have been designed to mitigate certain of the risks identified under
FIA_ISDA%20Disclosure%20document%20(final%20-%20for%20publication)%20-%20clean%20(19022014)%202016.docx