A Clearing Member shall have the right to clear and settle its own Exchange Trades transacted by it or its own customers or the Exchange Trades of 1 or more Trading Members qualified by it subject to the Clearing Rules and the Clearing Directives.

A Clearing Member shall have no right to participate in the assets or profits of CDP.

A Clearing Member shall have no right to receive notice of any general meeting of CDP or to attend and vote thereat.

A Clearing Member may not assign, transfer or otherwise dispose of any of its membership rights or other rights conferred under the Clearing Rules and the Clearing Directives.