EGUS

From MarketsWiki
Revision as of 04:05, 17 May 2013 by JohnJLothian (Talk | contribs)

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search
FIA 546 2019 Expo Digital Ads-Final.jpg

EGUS is a product from the Futures Industry Association which facilitates electronic give-ups. It is an Internet based system that allows all parties of a give-up agreement to execute the FIA International Uniform Give-Up Agreement electronically.[1]

The advantages the FIA claims for the EGUS system are:[2]

  • Eliminate mailing costs associated with give-up agreements
  • Establish trading relationships more quickly
  • Reduce staff time
  • Keep agreements in an electronic storage facility (think disaster recovery)
  • Facilitate communication with counterparties—EGUS prompts participants to update contact information

Give-Ups

Give-ups is a process where by the broker who executes an order is different from the broker who holds the account of the owner of the trade. The parties to a give up, who would all sign the FIA Give-Up Agreement include the executing broker, clearing brokers, traders and customers.

Participation

Participants in EGUS must first sign the FIA's Adherence Agreement, which refers to the System User Agreement, which includes the terms and conditions for using the system.

Resources


References

  1. {{cite web|url=http://www.futuresindustry.org/egus-fast-facts.asp%7Cname=EGUS Fast Facts|org=Futures Industry Association|date=May 17, 2013}]
  2. Give-Up Projects/EGUS. Futures Industry Association.