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Questionnaire for CDS CCPs on Protection of Customer Initial Margin - page 11 / 32

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a. In whose name(s) has/have the account(s) been established?

N/A

3. Whether CCP Margin securing customer positions will be segregated from the CCP Margin securing proprietary positions of CMs;

N/A

4. Any operational practices (whether voluntary or mandated by regulators) relevant to the analysis of customer protection and the sharing of any shortfalls in custodial property;6 and

N/A

  • 5.

    Under what circumstances CCP Excess Margin held at the custodian may be (i) withdrawn by the CM or customers or

    • (ii)

      applied by CMs or the CCP.

N/A

ii. Whether the custodian has the right to rehypothecate or cause liens to be placed on the CCP Margin, and if so, whether any such liens have been subordinated or waived;

N/A

6 For example, please consider, to the extent relevant, (i) whether the intermediary is a UCC securities intermediary that credits securities to a securities account in the name of a particular customer or customers generally, and whether the securities intermediary debits securities from the securities accounts of its customers upon any rehypothecation of such securities, and (ii) whether any cash held by the intermediary is maintained as a segregated “special deposit” that remains property of a particular customer or customers generally under applicable law (as distinguished from a “general deposit” in which legal title to the cash passes to the intermediary).

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