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7.2.3

Throughout the Settlement Day up to the Cut-Off Time for DVP Validation, all debits and credits to the Principal's daily balance shall be set-off on a continuous basis as to arrive at a net balance, known as a net debit or net credit balance, at any particular point of time during the Settlement Day. Setting-off shall also be conducted on a consecutive basis so that transactions which are matched and validated first shall be set-off first. The final Net Debit Balance for that Settlement Day shall be referred to as the Net Debit Balance and the final net credit balance for that Settlement Day shall be referred to as the Net Credit Balance.

Amended on 3 October 20093 October 2009.