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Chapters
Products
Rule 801

Clearing

  1. Applicability. Contracts shall be cleared through the Clearinghouse in accordance with the Rules. The Clearinghouse shall accept for clearing Contracts submitted by a Board of Trade and shall not accept Contracts submitted by any other Person. The clearing services provided by the Clearinghouse with respect to any Contract, and the rights and obligations of purchasers and sellers under cleared Contracts (including rights and obligations in respect of clearing and settlement, Margin payments and performance at maturity), will be governed by the Rules.

  2. Rejection and Suspension. The Clearinghouse shall have the right to reject Contracts and to suspend clearing of such Contracts without notice, in accordance with the Rules of the Clearinghouse.

  3. Novation and Offsetting. Contracts shall be novated upon acceptance for clearing by the Clearinghouse in accordance with Rule 811. Open positions in a Contract may be offset by opposite positions in the same Contract.

  4. Reliance on Information. The Clearinghouse shall be entitled to rely conclusively on the accuracy and authenticity of any information regarding a Contract submitted to the Clearinghouse by a Board of Trade on behalf of a Clearing Member, whether or not the Clearing Member in fact authorized the submission of such Contract for clearing.

  5. Transfer. A Clearing Member may transfer a Contract to another Clearing Member only upon notice to the Clearinghouse and in accordance with the Rules.

  6. Customer Fund Segregation. The Clearinghouse shall segregate customer funds in accordance with Commission Regulation 39.15.

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