17.3.5

Past version: Effective up to 07 Oct 2018

A Trading Member may, without notice to the borrower, realise the collateral and apply the proceeds to buy back securities to close off the loan position if:—

(1) the borrower does not provide the additional collateral by the close of the second Market Day from the date of notice; or
(2) the collateral value falls below 100% of the market value of the loaned securities, whichever occurs earlier.