Document ID: chunk:federal_register_of_legislation:F2024C01107:body:0:p9
Version: federal_register_of_legislation:F2024C01107
Segment Type: other
Provision Reference: 
Character Range: 24084–27064

of the Clearing Facility to which that Clearing Participant is subject.
Client Balance means an individual Counterparty's net debit or credit balance with a Market Participant arising from non-margined Financial Instruments.
CME means Chicago Mercantile Exchange Inc (ARBN 103 432 391).
Commodity  means a tradeable physical or energy product, such as agricultural products, minerals (including oil), electricity and precious and base metals (excluding gold).
Commodity Derivative includes:
         1.         a Commodity Swap;
         2.        a forward contract over a Commodity;
         3.         a Future over a Commodity or a Future over an index or basket product based on Commodities;
         4.        a basket or index product based on a Commodity;
         5.         a CFD over a Commodity; and
         6.         an Option over a Commodity and an Option over a product referred to in paragraphs (a) to (e),
     but does not include an instrument that falls within the definition of Equity Derivative, Debt Derivative or Foreign Exchange Derivative.
Commodity Equivalent means the value of a position in a Commodity Derivative that is equivalent to the value had it been a physical position in the underlying Commodity calculated in accordance with Part A3.27 of Annexure 3 to Schedule 1A.
Core Capital means:
(a)        in the case of a Market Participant which is a company, the sum of:
(i)         all ordinary issued shares to the extent that those shares are paid up;
(ii)       all non cumulative Preference Shares;
(iii)     all reserves, excluding revaluation reserves other than Financial Asset and Liability Revaluation Reserves; and
(iv)      opening retained profits/losses adjusted for all current year movements; and
(b)       in the case of a Market Participant which is a partnership, the sum of the partners' current and capital accounts.
Corporations Act means the Corporations Act 2001 (Cth).
Counterparty means in respect of a transaction to which a Market Participant is a party, another party to that transaction whether that person is a counterparty or a client.
Counterparty Risk Requirement means the greater of:
(a)        zero; and
(b)       the absolute sum of the counterparty risk amounts calculated in accordance with Annexure 1 to Schedule 1A less any provision raised for doubtful debts.
Note: The provision for doubtful debts must relate to a specific Counterparty receivable for which a counterparty risk amount has been calculated in accordance with Annexure 1 or to cover the possibility of a Counterparty or Client Balance becoming doubtful. A Market Participant must not deduct a provision amount from an individual counterparty risk amount.

Credit Rating Agency means an agency licensed by ASIC to carry on a business of providing credit ratings in Australia.
Debt Derivative includes:
(a)        a convertible note (except to the extent that Annexure 3 to Schedule 1A provides for the treatment of a convertible note as