individual client account

    as the context requires, either:

      1. (a) an account maintained by a firm at an authorised central counterparty for a client of the firm in respect of which the authorised central counterparty has agreed with the firm to provide individual client segregation; or
      1. (b) an account maintained at a clearing member of an authorised central counterparty at the request of a firm and in respect of an indirect client of the firm, in respect of which the clearing member has agreed with the firm to provide segregation arrangements under which the assets and positions held for the account of that indirect client can be distinguished from those held for the account of other indirect clients of the firm, as referred to as an ‘individually segregated indirect account’ in:
        1. (i) recital 7 to the EMIR indirect clearing RTS; or
        1. (ii) recital 7 to the MiFIR indirect clearing RTS.
Glossary Legal Instruments