Location: Rulebooks > CDP Clearing Rules > Rule 8 — Default Rules > 8.6D Trust Arrangements for Monies in Connection with New Purchase Contracts and New Sale Contracts > 8.6D.1

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  • 8.6D Trust Arrangements for Monies in Connection with New Purchase Contracts and New Sale Contracts

    • 8.6D.1

      Subject to all rights and remedies of CDP against or in respect of such amount under these Clearing Rules, any amount due from CDP to a customer pursuant to Rule 8 shall be held on trust by CDP for the benefit of such customer.

      Added on 22 April 2013.

    • 8.6D.2

      CDP shall have the right to commingle any or all amounts due to a customer pursuant to Rule 8 with any other amounts due to any other customer pursuant to Rule 8.

      Added on 22 April 2013.

    • 8.6D.3

      Unless otherwise notified by CDP to a customer from time to time, CDP shall have no obligation to make payment of any fees, interest and investment earnings to any customer arising from or in connection with such amounts held on trust by CDP pursuant to Rule 8.6D.1.

      Added on 22 April 2013.

    • 8.6D.4

      CDP shall not have any obligation or responsibility to preserve, protect, collect or realise, and under no circumstances shall CDP be liable for any loss or diminution in value or depreciation in or in connection with, such amounts held on trust by CDP pursuant to Rule 8.6D.1.

      Added on 22 April 2013.