Exchange Rules

EXCHANGE RULES
v3.0
obligation arising from the Rules and applicable laws in relation to Trading and
Clearing at BSP.
(2) BSP may temporarily or permanently exclude a Clearing Member from all or
individual Clearing Participations in case the Clearing Member either:
1) does neither provide or fulfil or effect, when due, respectively:
i) the Financial Guarantees required by BSP,
ii) the daily settlement payments,
iii) any delivery or receipt obligation;
2) exceeds a Trade Limit specified by BSP; or
3) fails to fulfil any other obligation which might exist towards BSP even after a
Warning has been issued by BSP and the deadline stated within has passed.
(3) Exclusion of a Clearing Member results in consequences described in the
provisions of paragraphs (7) and (8) in point 2.4.4 [Cease and Suspension of
Membership] above. Exclusion does not exonerate excluded Clearing Member
from any of its obligations and liabilities arising from Transactions it took part in.
4.4 Accounts
(1) Each Final Transaction of Clearing Participant shall be recorded in the Position
Account as stated in the Order on the basis of which the Final Transaction has
been concluded.
(2) Payments on the basis of Financial Guarantees paid in cash shall be kept in the
Deposit Account at the Settlement Bank. BSP recognises interest for Financial
Guarantees paid in cash in the amount of Agreed Interest Rate.
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