Chapters
Rule 809

Clearinghouse Authority

  1. The Clearinghouse shall have authority, in its sole discretion, to take such action against any Clearing Member, including but not limited to terminating the Clearing Member Agreement and requiring the withdrawal of a Clearing Member, imposing enhanced capital requirements, imposing enhanced Margin requirements, prohibiting an increase or requiring a reduction in positions, and liquidating or transferring positions when, in the sole discretion of the Clearinghouse, such action is appropriate or necessary to manage one or more risks posed to the Clearinghouse by a Clearing Member.

  2. If at any time the Clearinghouse, in its sole discretion, determines that there is a question as to a Clearing Member's good standing or financial condition, the Clearinghouse may suspend or take any other action to protect the best interests of the marketplace, other Clearing Members, the Exchange, and/or the Clearinghouse.

  3. In the event the Clearinghouse is unable to obtain sufficient funds and liquidity to promptly meet same day settlement and payment through such means, the Clearinghouse may declare the occurrence of a liquidity event (each, a "Liquidity Event").

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