2.5.5 Calculation of Financial Resources

Past version: Effective from 07 Feb 2014 to 28 Dec 2014

In the calculation of Financial Resources, a corporate Member may include one (1) or more Qualifying Letter(s) of Credit deposited with the Exchange, the Clearing House or CDP and Qualifying Subordinated Loan(s), subject to such conditions and restrictions as prescribed under the Financial and Margin Regulations and in such form as prescribed by the Exchange or the Clearing House.* The Exchange reserves the right to call on any of the Qualifying Letters of Credit and apply the proceeds thereof in respect of that Member's liabilities.

In the calculation of Adjusted Net Head Office Funds, a corporate Member may include one (1) or more Qualifying Letter(s) of Credit deposited with the Exchange, the Clearing House or CDP, subject to such conditions and restrictions as prescribed under the Financial and Margin Regulations and in such form as prescribed by the Exchange or the Clearing House. The Exchange reserves the right to call on any of the Qualifying Letters of Credit and apply the proceeds thereof in respect of that Member's liabilities.

* Refer to Annex A — Deed of Subordination (Term Loan)Annex A — Deed of Subordination (Term Loan) and Annex B — Deed of Subordination (Revolving Credit Facility)Annex B — Deed of Subordination (Revolving Credit Facility). Please contact the Clearing House for the format of the Qualifying Letter of Credit.

Amended on 25 August 200925 August 2009 and 7 February 20147 February 2014.