6.7A.1

(1) If a Clearing Member fails to deliver, in accordance with Rule 6.5.2, securities in respect of a Novated Contract when due, CDP may impose upon the short Clearing Member a fine of:
(a) $1,000 or 5% of the contract value of the undelivered securities (whichever is higher); or
(b) if the securities are to settle a Novated Contract arising from a trade on the buying-in market, $5,000 or 10% of the contract value of the undelivered securities (whichever is higher).
(2) Nothing in the foregoing prevents CDP from waiving the fine under Rule 6.7A.1 for:
(a) market makers of cross-listed exchange traded funds; or
(b) such participants and such class of market participants that CDP may deem appropriate from time to time.

Added on 20 November 200920 November 2009 and amended on 15 September 201715 September 2017 and 10 December 201810 December 2018.