Past version: Effective up to 25 Apr 2013

Upon the transfer of an OTCF Contract pursuant to this Rules and its acceptance for clearing in accordance with this Rules, such OTCF Contract shall, subject always to Rule 7.04.5C, be discharged and replaced by novation by a Contract between the Clearing Member into whose name the OTCF Contract was transferred and the Clearing House, as principals to such OTCF Contract.

Added on 3 November 20103 November 2010.