Whole Section

  • 6A.9A Additional Margins

    • 6A.9A.2

      Where CDP calls for additional margins from a Clearing Member in accordance with Rule 6A.9A.1, the Clearing Member shall deposit such margins with CDP by such time as CDP shall specify and in such forms as CDP prescribes.

      Added on 21 January 201321 January 2013.

    • 6A.9A.1

      Notwithstanding anything to the contrary in the Clearing Rules, in relation to Novated Contracts, CDP may call for additional margins from one or more Clearing Members in the following situations:

      (1) when, in CDP's opinion, unstable conditions exist or market conditions or price fluctuations relating to one or more securities or futures contracts at any time require that additional margins to maintain an orderly market or to preserve financial integrity or for any other reason;
      (2) when CDP believes that any Clearing Member is carrying exposure that:
      (a) is larger than is justified by the financial condition of that Clearing Member; or
      (b) places or may place CDP at risk;
      (3) where the Clearing Member is found to have a record of frequent rule violations or inadequate or unsound management or serious operational defects which, in CDP's opinion, places or may place CDP at risk; or
      (4) where market conditions or price fluctuations are such that CDP deems it necessary, to call upon the Clearing Members whom it believes are affected by such conditions or fluctuations to deposit additional funds.

      Added on 21 January 201321 January 2013 and amended on 8 October 20188 October 2018.