Before engaging in borrowing or lending transactions in Specified Products, a Trading Member must enter into a written agreement with the borrower or lender in accordance with Regulation 45(4) or, if the Trading Member borrows Specified Products from an Accredited Investor, Expert Investor or Institutional Investor, in accordance with Regulation 45(6) of the SFR (Licensing and Conduct of Business). Such agreement shall also provide for the matters set out in Rule 3.11.3.

Added on 3 June 20193 June 2019.