MEFF has approved a new type of account, the Sponsored Proprietary Account, which is added to the other types of accounts. The account structure in MEFF has the following characteristics:
House Account
- Any member is entitled to have this type of account at the central register.
- It has a principal-to-principal relationship with MEFF CCP.
- Position is net registered at the central register.
- Margins posted to MEFF are fully segregated from any other accounts (except non-segregated accounts).
- In case of insolvency, credits are returned to the member and deficits are treated with the application of the default waterfall process.
- For closing positions of house accounts please read article 32.1 for house accounts of a member not running Non Segregated Omnibus Accounts, and read article 32.2 for house accounts of a member running Non Segregated Omnibus Accounts.
Click here for full details.
