Clearing Company Definition
OTC Clear created OCASS, the OTC Clearing and Settlement System, for OTC Derivatives clearing and became the central counterparty for all clearing members. OTC Clear is currently providing clearing and settlement services interest rate swaps and non-deliverable forward products. The LRMF defines “Base Liquidity Resources” to mean the amount of committed liquidity resources maintained at all times by OCC to meet its Cover 1 liquidity resource requirements under the applicable regulations. As discussed below, OCC would be required to file an advance notice with the Commission if it were to seek to reduce the commitments under the Non-Bank Liquidity Facility so as to reduce external liquidity below the $3 billion target. Depository DTC, or any successor Depository hereafter named. The nominee of the initial Depository for purposes of registering those Certificates that are to be Book-Entry Certificates, is Cede & Co. The Commission received comments asserting that the proposal wo...