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client transaction account

    (in relation to a firm and another person) an account maintained by that other person, such as an exchange, clearing house, intermediate broker or OTC counterparty, who a firm allows to hold client money under CASS 7.14 (Client money held by a third party), which:

      1. (a) is the name of the firm;
      1. (b) includes in its title the word "client" (or, if the system constraints of the relevant person or the firm that holds the account (or both) make this impracticable, an appropriate abbreviation of "client" that has the same meaning); and
      1. (c) is not a client bank account.