This Rule 9.3 applies only to trades that are cleared with CDP.
Amended on 10 December 201810 December 2018.
9.3.1
A selling Trading Member must look only to its Clearing Member who qualifies it in relation to all obligations in connection with trades that the selling Trading Member executes, including payment of sale proceeds.
Amended on 23 January 200923 January 2009 and 10 December 201810 December 2018.
9.3.2
A buying Trading Member must look only to its Clearing Member who qualifies it in relation to all obligations in connection with trades that the buying Trading Member executes, including delivery of securities or in the case of a deliverable futures contract, the relevant underlying.
Amended on 3 April 20083 April 2008, 23 January 200923 January 2009, 8 October 20188 October 2018 and 10 December 201810 December 2018.
9.3.3
If a selling Trading Member fails to make securities available on Intended Settlement Day and buying-in is conducted under the Clearing Rules in respect of those securities, the selling Trading Member shall be liable to the Clearing Member for any costs or losses incurred by the Clearing Member in relation to the buying-in.
Added on 10 December 201810 December 2018.
9.3.4
A buying Trading Member must pay its Clearing Member for its trade as follows:
Added on 10 December 201810 December 2018.