Rule 8 — Default Rules

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 8 — Default Rules
8.6B Application of Margins and Collateral
8.6B.2 Clearing Member not to take any action or do anything that will interfere with CDP's ability to apply Contributions, margins or Collateral Not Compoundable Not Compoundable $10,000
8.7 Certification of Net Sum Due
8.7.1 Clearing Member to make payment of net amount payable to CDP in respect of Clearing Member's rights and obligations under these Clearing Rules Not Compoundable Not Compoundable $10,000
8.9 Clearing Members to Render Assistance
8.9.1 Defaulting Clearing Member to render all assistance and information, and to comply with all other requirements. Not Compoundable N.A. N.A. N.A. $10,000

Added on 16 May 201116 May 2011 and amended on 21 January 201321 January 2013, 22 April 201322 April 2013 and 6 September 2021.