Where a Seller or Buyer has open positions with more than one Clearing Member, or with any Clearing Member and any clearing member of any other Relevant Market (or its clearing house) on the first Business Day following the Last Trading Day, the Clearing House may (but is not obliged to) consolidate all such open positions held by all the Clearing Members and clearing members of such other Relevant Market (or its clearing house) for the same Seller or Buyer in such manner as it deems fit including, without limitation, effecting the following: appointing one (1) or more of these Clearing Members to whom all such positions shall be transferred to be handled for such Seller or Buyer, where such appointment shall be binding; requiring any Clearing Member to transfer positions to one (1) or more such clearing members of the other Relevant Market to be handled for such Seller or Buyer; setting-off any opposite open positions held by the appointed Clearing Member(s) for the account of the same Seller or Buyer; and/or taking such other actions or giving such other directions to the appointed Clearing Member(s) as it deems fit.

Added on 22 September 200622 September 2006 and amended on 26 January 200726 January 2007 and 1 October 20091 October 2009.