7A.02A Open Positions of Connect Broker and Clearing Members holding Positions in Connect Contracts
7A.02A.1 Upon the declaration of a Trigger Event or where the Clearing House determines, in its sole discretion, that it will cease to clear the Connect Contracts due to a termination or discontinuation of the Connect, the Clearing House may require Clearing Members to close out or liquidate all or such part of positions in Connect Contracts. Notwithstanding the preceding, the Clearing House may at its discretion, at any time by notice in writing to the Connect Broker and/or Clearing Members holding positions in Connect Contracts, specify one or more date(s) for the termination of any or all of the Connect Contracts to which it is a party.
7A.02A.2 The Clearing House may prescribe termination price(s) for any or all of the Connect Contracts by reference to the prices derived from the Connect Market or such other prices as it may determine in its sole discretion.
7A.02A.3 The Clearing House shall on the termination date(s) specified in Rule 7A.02A.1 terminate positions in any or all Connect Contracts at the termination price(s) prescribed in Rule 7A.02A.2.
7A.02A.4 Notwithstanding the above, the Clearing House may undertake any additional action it deems necessary in relation to the management of the open positions for the Connect Contracts, including those which are ancillary or incidental to activities set out under Rule 7A.02A.
Added on 29 July 2022.