Past version: Effective from 26 Apr 2013 to 14 Sep 2017
(1) Each Trading Member indemnifies the Exchange and its directors, officers, employees, representatives and agents ("Indemnified Persons") against any loss or liability reasonably incurred or suffered by the Indemnified Persons where such loss or liability arose out of or in connection with:—
(a) any breach by the Trading Member of its obligations under the Rules; or
(b) any wilful, unlawful, reckless or negligent act or omission by the Trading Member.
(2) Without prejudice to the generality of Rule 1.6.1A(1), in the event that any legal, arbitration or other proceedings are brought to impose any liability on the Indemnified Persons for an alleged failure on the part of any Indemnified Person to prevent or to require action by a Trading Member or any of its directors, officers, employees, representatives or agents, the Trading Member shall reimburse the Exchange for:—
(a) all expenses and legal fees incurred by the Exchange in connection with such proceedings;
(b) any payment made by the Exchange with the approval of the Trading Member in connection with any settlement of such proceedings; and
(c) any payment made by the Exchange as a result of any order, award or judgment made in such proceedings.
The Trading Member shall render such co-operation as the Exchange reasonably requires in respect of such proceedings including without limitation the production of any document or records.
(3) Without prejudice to Rule 1.6.1A(2), the cost to the Exchange of producing, pursuant to a court order or other legal process, records relating to the business or affairs of a Trading Member may, at the absolute discretion of the Exchange, be required to be paid to the Exchange by such Trading Member, whether such production is required at the instance of such Trading Member or at the instance of any other party.
Added on 26 April 201326 April 2013.