Rule 7 — Clearing Fund

Rule Violation Whether composition may be offered Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable Mandatory minimum penalty imposable by the DC
Rule Chapter/Number Brief Description of Rule 1st Violation 2nd Violation 3rd Violation
Rule 7 — Clearing Fund
7.15 Time Payment of Contributions
7.15.1 Clearing Member to pay the required Contribution or to topup deficiency in Contribution within prescribed time Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A.
7.7A Interest and Fees
7.7A.1 Clearing Member to pay CDP such administrative fees as may be prescribed by CDP for the investment and management of the assets of the Clearing Fund and any excess monies and assets placed with CDP in respect of the Clearing Fund. Compoundable $500 $1,000 $2,000 N.A.

Added on 16 May 201116 May 2011 and amended on 21 January 201321 January 2013.