2.5.2 Trading Members

The following requirements apply in relation to Trading Members:

(a) except for Rule 2.5.4, a Trading Member that engages solely in House Trades and Proprietary Trades of its Related Corporations is not subject to any financial requirements under Rule 2.5. However, in deciding whether to admit such Trading Member, the Exchange shall take into account matters such as the prospective Trading Member's financial standing, pending court proceedings and criminal records;
(b) a General Trading Member that holds a licence to engage in a Regulated Activity, shall at all times:
(i) maintain a Base Capital or Net Head Office Funds, as the case may be, of not less than $1 million;
(ii) not cause or permit its Financial Resources or Adjusted Net Head Office Funds, as the case may be, to fall below its Total Risk Requirement; and
(iii) not cause or permit its Aggregate Indebtedness to exceed 1200% of its Aggregate Resources.
(b1) a General Trading Member that holds a licence specified in Rule 2.4.1(b) shall at all times maintain a Base Capital of not less than $1 million;
(c) a Bank Trading Member shall at all times:
(i) maintain a Base Capital of not less than $1 million; and
(ii) comply with all applicable RRA Financial Requirements.

Amended on 25 August 200925 August 2009, 1 April 20141 April 2014 and 22 April 201922 April 2019.