Exchange Rules

EXCHANGE RULES
v3.0
4 Clearing
4.1 Introductory Provisions
(1) BSP shall operate Multilateral Clearing Mechanism of Transactions that ensures
mutual anonymity of Exchange Participants concluding a Transaction at the
Exchange. Such a mechanism shall be defined in more detail in the Clearing Rules,
an Appendix to these General Rules, and used for the Markets which are
determined so by BSP.
(2) BSP may operate also other types of clearing mechanisms, like bilateral gross
clearing mechanisms. Such mechanisms shall be defined by the individual
corresponding Clearing Rules.
(3) BSP shall not provide services in accordance with provisions of paragraphs (1) and
(2) above for the Markets which are so determined by BSP.
(4) Until BSP determines otherwise every Exchange Participant shall be deemed as a
Clearing Member as well.
4.2 Conditions for Clearing Participation
(1) The following shall be required for Clearing Participation:
a) Clearing Membership;
b) Conclusion of corresponding Clearing participation Agreement with BSP;
c) existence of (a) valid appropriate Physical Settlement Domain Agreement(s);
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