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3.3.1

All payment obligations arising under the DVP transactions which are due for settlement on any Settlement Day shall be set off so that:

(a) the total of all amounts that a Principal is obliged to pay CDP on that Settlement Day shall be set off against the total of all amounts that the Principal is entitled to receive from CDP on that Settlement Day so that only a net amount is owed either to or from CDP. The net amount owing to CDP by the Principal for the same Settlement Day shall be known as the Net Debit Balance and the net amount owing by CDP to the Principal for the same Settlement Day shall be known as the Net Credit Balance; and
(b) the total of all amounts that a Clearing Member is obliged to pay CDP on that Settlement Day under the Interbroker Settlement System in respect of the DVP transactions shall be set off against the total of all amounts that the Clearing Member is entitled to receive from CDP under the Interbroker Settlement System in respect of the DVP transactions on that Settlement Day.

Amended on 3 October 20093 October 2009.