Will the CCP It is likely that the CCP Transactions No CCP Transactions are likely to be netted, but recorded in the account will be netted. should not be netted against the CCP Transactions recorded in the This means that CCP Transactions that Transactions relating to any of our other account be relate to you may be netted with CCP clients. netted? Transactions that relate to our other clients whose CCP Transactions are recorded in the same Net Omnibus Client account. Will the margin The margin will be calculated on a net The margin will be calculated on a gross The margin requirement for an Individual be calculated on a basis. basis. Client Account will typically be calculated on a net basis. gross or net basis? Will you have to You may have to enter into legal You may have to enter into legal You may have to enter into legal enter into any documentation to which the CCP is party. documentation to which the CCP is a party. documentation to which the CCP is a party. documentation or It is unlikely that you will have to set up It is possible but unlikely that you will have It is also possible that you will have to set up operational any operational arrangements with the to set up operational arrangements with the some operational arrangements with the arrangements CCP directly. CCP directly. CCP directly. directly with the CCP? Transit Risk Yes Yes Yes
Will the CCP Transactions recorded in the account be netted? It is likely that the CCP Transactions recorded in the account will be netted. This means that CCP Transactions that relate to you may be netted with CCP Transactions that relate to our other clients whose CCP Transactions are recorded in the same Net Omnibus Client account. No CCP Transactions are likely to be netted, but should not be netted against the CCP Transactions relating to any of our other clients. Will the margin be calculated on a gross or net basis? The margin will be calculated on a net basis. The margin will be calculated on a gross basis. The margin requirement for an Individual Client Account will typically be calculated on a net basis. Will you have to enter into any documentation or operational arrangements directly with the CCP? You may have to enter into legal documentation to which the CCP is party. It is unlikely that you will have to set up any operational arrangements with the CCP directly. You may have to enter into legal documentation to which the CCP is a party. It is possible but unlikely that you will have to set up operational arrangements with the CCP directly. You may have to enter into legal documentation to which the CCP is a party. It is also possible that you will have to set up some operational arrangements with the CCP directly. Transit Risk Yes Yes Yes
FOA_ISDA%20Disclosure%20document%20(final%20-%20for%20publication)%20-%20clean%20(19022014).docx