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RECOVERY FROM PARTICIPANT DEFAULT IN A SECURITIES LENDING TRANSACTION
RECOVERY FROM PARTICIPANT DEFAULT IN A SECURITIES LENDING TRANSACTION
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机译:抵押交易中参与者违约的恢复
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摘要
A stock loan system enables a non-clearing member lender to lend to a non-clearing member borrower; each of the non-clearing members is associated with a respective clearing member. When a clearing member defaults, the stock loan system automatically tries to reassign the loan to a backup clearing member, or if no backup clearing member is available, the stock loan system automatically terminates the stock loan, thereby avoiding the loan being in a legal limbo due to the default of the clearing member.
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