7.02A.1 Eligible Non-Relevant Market Transactions
7.02A.1.1 Only Non-Relevant Market Transactions which meet the following criteria will be eligible for registration with the Clearing House ("Eligible Non-Relevant Market Transactions"):
a. a transaction which falls under one of the classes of Eligible Non-Relevant Market Contracts; and
b. a transaction where the Seller and the Buyer have satisfied the risk limits prescribed by their respective Clearing Members; and
c. a transaction where:
i. the trade price falls within the price band prescribed by the Clearing House; or
ii. notwithstanding that the trade price does not fall within the price band prescribed by the Clearing House, the Clearing Member acting for the Seller and the Clearing Member acting for the Buyer have both signified their respective agreement to clear the transaction and have both met the capital and notification requirements prescribed by Rule 2.11.5.
Once the criteria in Rule 7.02A.1.1 are satisfied, the Clearing Members acting for the Seller and the Buyer respectively shall be responsible for the Eligible Non-Relevant Market Transaction as principals to the Clearing House.
7.02A.1.2 If an Non-Relevant Market Transaction does not fulfill the criteria in Rule 7.02A.1.1, the Non-Relevant Market Transaction shall be deemed not to have been submitted to the Clearing House and the transaction shall remain in effect or be terminated, as the case may be, in accordance with any terms agreed between the Seller and the Buyer.
7.02A.1.3 The specifications of Eligible Non-Relevant Market Contracts including Contract size, Contract Month, trading hours, underlying asset, exercise price, minimum price fluctuation, last trading day, settlement basis and method of exercise shall be set out in Circulars issued by the Clearing House from time to time.