This agreement prevents the investor from having to conclude or clarify differently any trading position with different brokers, but brokers accept that traders are compensated by one of them. In the consolidation process, some brokers cede their position to the clearing company or brokerage firm responsible for clearing trades. A clearing Member Trade Agreement (CMTA) refers to an agreement that allows an investor to enter into derivatives transactions with different brokers, but consolidates those trades with a single brokerage firm for clearing purposes. Using the CMTA. A single trader can initiate trades such as options, derivatives and futures with a limited number of brokers, but only one of them can end trading. 10. However, the OCC does not propose to make the inclusion of a countervailable identifier a prerequisite for acceptance of trade. A member clearing agreement is a document that establishes an employment relationship between an investor and a brokerage. The agreement does not prevent the investor from using multiple brokers for derivatives trading. However, the document allows the investor to consolidate these operations with a broker in order to cross transactions. Such an agreement has advantages for investors, as they can monitor all orders through a central source instead of having to record records from several different brokerage firms. In addition, an optimized clearing system reduces the cost of commissions and fees and saves time.

First, the OCC`s clearing Member Trade Assignment („CMTA“) process allows a clearing member that trades in securities options (i.e.dem executive clearing member) to trade directly through the OCC to another clearing member for release and settlement (i.e., sending the Carrying Clearing Member). [5] Under the CMTA procedure, an executive clearing member may send options transactions directly to the omnibus accounts of an OCC carrying clearing member for settlement and settlement, without providing information indicating the specific accounts to which trading should be allocated. Second, in the „give up“ process, a broker can make a trade on an exchange and then assign that trade to a clearing member`s Omnibus account. In particular for client transactions, a broker who is not a clearing member of the OCC may trade a client and then „transfer“ the trading to the client`s clearing broker, who must be a clearing member of the OCC, without identifying the client for whom the transaction was carried out. Similarly, a trading desk within a clearing group can execute a non-client trade and send it to a clearing member`s omnibus account, without clearly identifying the account to which the trade should be associated. [6] Finally, a broker who participates in a joint back-office agreement with a clearing member could make a non-client trade, which will then be charged directly to a clearing member`s omnibus account. Transactions carried out in this way under a common back-office agreement with a clearing member could lead a clearing member to receive non-client trading on its Omnibus corporate account, without clearly indicating which account the clearing member is to allocate trading. .

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