Exchange Rules

EXCHANGE RULES
v3.0
Chairperson .............................. a person presiding over the respective proceedings of
an Exchange Body.
Clearing ...................................... a set of procedures that include registration, invoicing
and settlement, as well as collateralisation of
Transactions.
Clearing Member ................... an Exchange Participant.
Clearing Participation .......... the right to participate in respective Clearing system.
Clearing Participation Agreement ........................... an Agreement entered into between
a Clearing Member and BSP on respective Clearing
Participation.
Clearing Rules ......................... an Appendix of General Rules setting out conditions
and instructions governing Clearing of Final
Transactions in the Markets and risk management in
accordance with the General Rules.
Clearing System...................... the entirety of all hardware and software devices and all
components necessary for the connection of the
network nodes which form the technical basis for the
implementation of Clearing in the electronic system.
Clearing Transaction ............. a transaction established within the process of
registration of Final Transaction registered for Clearing
that forms the basis for financial settlement.
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