8.03 Governing Rules
For the purposes of a Mutual Offset System and this Rules, the following additional definitions shall apply:8.03.1.1 Originating Clearing Member
An Authorised Clearing Member of a Participating Market and/or its clearing house which:a. initiates an order for execution by an Executing Clearing Member of the other Participating Market; orb. is deemed with respect to such Executing Clearing Member to be responsible for orders to be executed,on the other Participating Market pursuant to the Mutual Offset System.8.03.1.2 Executing Clearing Member
An Authorised Clearing Member of a Participating Market and/or its clearing house that accepts and is responsible for executing and/or clearing of a trade on such Participating Market requested and/or initiated by an Originating Clearing Member of the other Participating Market pursuant to the Mutual Offset System.8.03.1.2A Authorised Clearing Member
A clearing member of a Participating Market and/or its clearing house that is authorised to gain access to and use, the Mutual Offset System.8.03.1.3 Inter-Exchange Transfera. The transfer pursuant to the Mutual Offset System to a Participating Market and/or its clearing house of a position as a result of a trade executed on another Participating Market. For the avoidance of doubt, Inter-Exchange Transfer does not apply to a trade executed as a result of private negotiation.b. All orders received by members of a Participating Market ("Originating Participating Market") for execution on another Participating Market shall (if a Mutual Offset System Agreement subsists between the two (2) Participating Markets and the orders relate to a Designated Futures Contract for the purposes of such agreement) be deemed to be for the purposes of such Mutual Offset System, and the resulting positions shall (if satisfying the prerequisites for Inter-Exchange Transfer set out below) automatically be transferred to the other Participating Market unless upon receipt of an order the member of the Originating Participating Market receives instructions to the contrary.c. All trades of an Originating as well as those of an Executing Clearing Member who is a Clearing Member for the purposes of the Mutual Offset System shall be promptly reported to the Clearing House in the form of a memorandum provided by the Clearing House (the "Inter-Exchange Transfer Memorandum"). In this connection, it shall be the responsibility of such a Clearing Member to ensure that it receives such information as may be necessary and in due time from such members of a Relevant Market (for whose trades such Clearing Member is deemed to be the Originating Clearing Member or for whose executed trades such Clearing Member is to be the Executing Clearing Member under the Mutual Offset System) for it to promptly effect its reporting obligation as aforesaid.