7.27.1

Past version: Effective up to 30 Dec 2013

Subject to the approval of the Clearing House:

7.27.1.1 Existing trades may be transferred on the books of a Clearing Member to the books of another Clearing Member when an error has been made in the assignment of a trade or trades, or when the change merely constitutes a transfer from one account title to another account title where both account titles have a common owner;
7.27.1.2 Existing trades may be transferred from the books of one Clearing Member to the books of another Clearing Member when:—
a. they merge or the first-mentioned Clearing Member is transferring the whole or part of its business to another entity; or
b. a Clearing Member resigns from the Clearing House; or
c. a new Clearing Member has an interest in existing trades on another Clearing Member's books. The original Clearing Member shall not suffer any loss in commission to which it is entitled on the trades that were transferred; or
d. a mutual clerical error was made by two Clearing Members or the clearing members of the Relevant Market they are clearing for with respect to the trades to be cleared by them respectively on opposite sides thereof. Clear and sufficient information must be included with respect to the transfer trades and both the trade to reverse the error and the replacement trade must clear as transfers. In this event, and only in this event, the transfer may liquidate an open position on the books of the relevant Clearing Member(s);
7.27.1.3 Existing trades on the books of one Clearing Member being a Customer Contract may be transferred to the books of another Clearing Member at the request of the relevant Customer;
7.27.1.4 Existing trades on the books of one Clearing Member may be transferred to the books of another Clearing Member when such transfer is EFP or an EFS transaction. The provisions of this Rule 7.27.1.4 shall not however apply to options contracts; and
7.27.1.5 A trade made on a Relevant Market by a Clearing Member or a member of the Relevant Market (the "Executing Member") intended to be an order fill or to be given up to (i.e. placed on the books of) a Clearing Member (the "Recipient Member") other than the Executing Member or (where relevant) its qualifying member, may be placed or transferred into the books of the Recipient Member subject to compliance with Rule 7.27.3.

Amended on 27 March 200627 March 2006 and 10 August 200710 August 2007.