With regard to transfers of positions from a Clearing Member to a clearing member of any other Relevant Market pursuant to Rule 7.28, the Clearing House shall cease to stand as counterparty in respect of the transferred positions only as at the time of payment of the first maintenance margin and any Settlement Variation due for such trades pursuant to Rule 7.12 as confirmed by the appropriate settlement bank for the Clearing Member and confirmation from such other Relevant Market (or its clearing house) that the requirements for its substitution in respect of the transferred positions have been met.

Added on 1 October 20091 October 2009 and amended on 7 August 20127 August 2012.