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  1. Point in time
    2015-02-01

gross-minus-net amount

51at any given time, in respect of an omnibus client account maintained by a clearing member firm and the positions recorded therein, an amount equal to the difference between:

  1. (a) the sum of the margin amounts received from each client regarding positions held for such client in that omnibus client account and
  2. (b) the amount of margin calculated on a net basis for all of the client positions recorded in that omnibus client account and paid by that firm to the authorised central counterparty.