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4.1.18A Reduction of Positions

Where any person has exceeded such position limits imposed or approved by the Clearing House, or exceeds such position accountability thresholds, the Exchange, if it deems it necessary in the interest of maintaining a fair, orderly and transparent market, may subject the Member to one or more of the following:

  1. to cease any further increase in the person’s positions;
  2. to liquidate the person’s positions to comply with the position limits or to reduce it below the position accountability thresholds within such time as may be prescribed by the Exchange; or
  3. to trade under such conditions and restrictions as the Exchange may consider necessary to ensure compliance with the prescribed position limits or to reduce the positions below such position accountability thresholds.

Added on 3 August 2020.