regulated clearing arrangement

124as the context requires, either:

1. (a) an arrangement under which a firm directly places client money in a client transaction account that is an individual client account or an omnibus client account at an authorised central counterparty; or
2. (b) an arrangement under which a firm, acting for a client who is also an indirect client, directly places client money of that indirect client in a client transaction account that is an individual client account or an omnibus client account at a clearing member for the purposes of having that clearing member clear the positions of that indirect client through an authorised central counterparty.