Upon admission as a Direct Clearing Member, if there is any downgrade in the rating of the Direct Clearing Member or its holding company such that it falls below the minimum prescribed rating, the Clearing House may, at its absolute discretion, impose additional conditions as it deems fit, for permitting the Direct Clearing Member to continue to clear Contracts through the Clearing House.

Added on 27 March 200627 March 2006 and amended on 10 August 200710 August 2007.