EGUS

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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[edit]

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[edit]

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[edit]


References[edit]

  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.