In respect of any Clearing Member, its payment obligations arising under the Novated Contracts which are due for settlement on any Settlement Day shall be set-off so that the total of all amounts that such Clearing Member is obliged to pay CDP on that Settlement Day shall be set off against the total of all amounts that such Clearing Member is entitled to receive from CDP on that Settlement Day. The resultant net amount shall be known as the "Net Inter-Broker Settlement Balance" for that Settlement Day and CDP shall issue to the Clearing Member the "Daily Settlement of Account with CDP" statement by such time as set out in Appendix 1 on that Settlement Day to notify the Clearing Member of its Net Inter-Broker Settlement Balance for that Settlement Day.

Amended on 23 January 200923 January 2009, 25 February 201125 February 2011 and 26 April 201326 April 2013.