Status: You are viewing the version of the handbook as on 2009-03-31.

market contract

    3a market contract as described in section 155 of the Companies Act 1989 or article 80 of the Companies (No2) (Northern Ireland) Order 1990 which is in summary:

      1. (a) a contract entered into by a member or designated non-member of an RIE which is either:
        1. (i) a contract made on the exchange or an exchange to whose undertaking the exchange has succeeded; or
        1. (ii) a contract in the making of which the member ordesignated on-member was subject to the rules of the exchange or of an exchange to whose undertaking the exchange has succeeded;
      1. (b) a contract entered into by an RIE or RCH with one of its members for the purpose of enabling the rights and liabilities of that member under transactions in investments to be settled.