Participant and Clearing Member Delivery Obligations

A Participant and its respective Clearing Member carrying a position that is required to make or take delivery hereby guarantees and assumes full and unconditional responsibility for the performance of all delivery requirements set forth in the Rules.

Participants are required to register accounts for the purpose of making or taking delivery with the Settlement Facility and Clearinghouse before the start of the delivery period. A Participant may effect delivery only through the Settlement Facility.

In the event of a default or failure of a Clearing Member during the delivery period or process, the Clearinghouse shall not be obligated to make or take delivery of Digital Assets.

Any Participant intending to make or take delivery of a Digital Asset pursuant to a Futures Contract shall maintain a valid Digital Asset Delivery Address on record with the Settlement Facility to deliver and/or receive and to hold the respective Digital Asset.

Any Participant intending to make delivery of a Digital Asset agrees to transfer control of that asset to the Settlement Facility in anticipation of delivery in accordance with Exchange Rules.

Each Delivery Participant represents and warrants, to the best of its knowledge, to each Receiving Participant, the Exchange, the Clearinghouse, and the Settlement Facility that the Digital Asset subject to delivery is free and clear of all adverse claims, security interests, liens and encumbrances of any kind whatsoever. Each Participant acknowledges and agrees that the Exchange, the Clearinghouse, and the Settlement Facility provide no representation or warranty as to good or marketable title to any Digital Asset subject to delivery. Each Receiving Participant hereby waives any right to bring a claim, whether in law or equity, against the Exchange, the Clearinghouse, and the Settlement Facility with respect to any defect in, or lack or failure of, good or marketable title of any Digital Asset delivered to Receiving Participant.

The rights and obligations of Clearing Members for contracts cleared by the Clearinghouse, including but not limited to rights and obligations regarding clearing and settlement, variation payments and performance at expiration, shall be as set forth in the By-Laws and Rules of the Clearinghouse.

Clearing Members will not, under any circumstances, be required to own, hold, or control Digital Assets under Exchange Rules, but Clearing Members must ensure, through position monitoring and communication with their customers, as Participants, that such customers are able to satisfy their obligations regarding delivery and acceptance thereof under the applicable Clearinghouse and Exchange Rules.

Clearing Members must confirm that Delivering Participants deliver the appropriate amount of Digital Asset to the Settlement Facility during the Delivery Period.

All Participants and their respective Clearing Members with obligations to make or take delivery are subject to the Clearinghouse Rulebook.