Whole Section

  • 1.4 Confidentiality of Information of Members, Approved Traders and Registered Representatives

    • 1.4.1 Confidentiality Undertaking

      The Exchange shall not use, distribute, supply, provide, make available, sell or otherwise deal with Confidential Information to or for the benefit of any third party, including any third party who or which by himself or itself or by any director, officer, employee or representative that has, or at any time has had, any trading interests upon the Exchange. "Confidential Information" relates to information which is not in the public domain and includes information pertaining to a Member's Open Positions, Financial Resources, Members' Affairs and User Information.

    • 1.4.2 Members' Affairs

      All confidential information concerning a Member's affairs obtained or received by officials of the Exchange:

      (a) as a result of inspections of accounting, financial statements, declarations or reports on financial condition and daily monitoring or stress testing activities; or
      (b) pursuant to or in connection with any disciplinary proceedings, investigations or surveillance or enforcement actions taken by the Exchange,

      (collectively, "Members' Affairs") shall be confidential to such officials of the Exchange. For the avoidance of doubt, nothing in this Rule prohibits the disclosure by the Exchange of the outcome of any disciplinary proceedings or the grounds for a decision of the Disciplinary Committee or Appeals Committee.

    • 1.4.3 Consensual Disclosure

      Where the Exchange considers it necessary or desirable to use or disseminate any Confidential Information, the Exchange shall seek the prior consent of that Member to such use or dissemination, and shall provide to such Member:

      (a) particulars sufficient to identify the nature of the information;
      (b) the name and address of each Person to whom it is proposed to disseminate that information;
      (c) a description of the manner in which and the purposes for which it proposes to disseminate that information; and
      (d) a description of the circumstances in which and the conditions upon which it is proposed that the use or dissemination will take place.

      Any Member approached by the Exchange under this Rule may give or withhold its consent to any use or dissemination of its information in its absolute discretion.

    • 1.4.4 Permitted Disclosure

      Notwithstanding anything to the contrary as set forth above, the Exchange may disclose any information, including Confidential Information concerning or associated with a Member, Approved Trader or Registered Representative (including, without limitation, information concerning any aspect of transactions made on the Markets) in connection with the discharge of its regulatory obligations under the Act or when compelled under applicable laws to do so or pursuant to any cross-border regulatory sharing arrangement subject to its obligation to maintain confidentiality under the Act. To the extent practicable, the Exchange shall use its best endeavors to notify the affected party of such disclosure(s) prior to disclosing the same.