Practice Note 3.3.16 — Transfer of Unsuccessful Give-Up Trades to House Account
|Issue Date||Cross Reference||Enquiries|
|Added on 22 September 2006.||Rule 3.3.16||
Please contact Member Supervision:
Facsimile No : 6538 8273
E-Mail Address: firstname.lastname@example.org
1.1 This Practice Note sets out the treatment of unsuccessful give-up trades.
2. Treatment of Unsuccessful Give-Up Trades
2.1 Members are encouraged to ensure that all give-up trades are promptly and properly booked out by the end of trade date (T). Also, trades meant to be given-up may be done in the Customer's give-up account. If by end of T+1, there are trades which have not been given up to and accepted by the accepting Clearing Member, the Member should transfer such trades to a designated House Account identified as "name of Member/ Unsuccessful Give-up Trades".