2.18.2 Use and Set-off

Past version: Effective up to 25 Apr 2013

The Clearing House shall be entitled to use and deal with any of the money, Securities and Properties received by it from a Clearing Member in such manner as the Clearing House shall in its absolute discretion think fit, provided nevertheless that the Clearing House shall not use any money, Securities or Properties received and notified to it as being in relation to a futures broker's customer's contract to settle any obligation referable to an account classified or reported to the Clearing House as "House" or "House" globally.

For the purposes of this Rule, unless the context otherwise requires:—

"Properties" shall include movable and immovable property, and any estate, share and interest in any property, movable and immovable, and any debt, and any thing in action, and any other right or interest, whether in possession or not; and

"Securities" shall mean debentures, stocks and shares in a company or corporation, funds or bonds of any government or of any body, corporate or unincorporate, and includes any right or option in respect thereof and any interest as defined in the SFA.