2.5 Ongoing Notification Requirements

2.5.1           Every Member shall notify the Exchange forthwith in writing of:

a.   any change or anticipated change in circumstances applicable to the Member, of which the Member is aware, which will, or is likely to, result in the Member being unable to continue to satisfy any one or more of the membership criteria applicable to it;

b.   any alteration in other business information which the Member may be required to furnish to the Exchange, including but not limited to change of business address, registered address, name, directorship or shareholding of the Member;

c.   such information as the Exchange may stipulate from time to time with respect to trading on, or access to the Cleartrade Platform, including without limitation, location of access points to the Cleartrade Platform, details and location of user interfaces employed and order-routing arrangements put, or to be put, in place by or on behalf of the Member; and

d.   any other information specified by the Directors from time to time.

 

2.5.2           Every Member shall immediately notify the Exchange of any matters in relation to:

a.   any change or proposed change in the nature of business or legal status or licence or exemption status of the Member, including any change in the Member’s status as a Clearing Member of the Relevant Clearing House(s) and/or a clearing agreement with a Clearing Member;

b.   any proposed change in the identity of the Responsible Individuals registered on behalf of the access the Cleartrade Platform (where the new location is in a different jurisdiction from that previously notified to the Exchange);

c.   any material change in the way in which the Member accesses and uses the Cleartrade Platform;

d.   any charge due to breaches of relevant laws and regulations where such breaches could reasonably affect its participant in the Exchange;

e.   any of its key personnel’s insolvency, revocation of licensing or authorization by its home regulator;

f.   any breach of applicable laws or rules of other exchanges/clearing houses which may have an impact on the integrity of the Members and/or its personnel; and

g.   any other material change which affects the Member’s likely ability to conform to these Rules.

 

2.5.3           In the case of a change in a partnership, the continuing and new partners shall sign and deliver to the Exchange a form of undertaking under which they jointly and severally agree to be bound as a Member of the relevant category by the Rules.

 

2.5.4           Any change notified to the Exchange under Rule 2 needs to be approved by the Directors and the Member shall be informed accordingly if the Directors decline to approve any such change.

 

2.5.5           In addition to the requirements of Rule 2, every Member shall promptly (and thereafter upon demand or with such regularity as may be prescribed) notify the Exchange’s Compliance Officer in writing of such information and of any changes thereto in respect of such of the Member’s directors, partners, Responsible Individuals, traders, brokers, representatives, staff and other persons as the Directors or the Compliance Committee may from time to time prescribe.

 

2.5.6           If the Directors consider that there has been a failure to notify the Exchange fully in accordance with this Rule 2 or if a Member has failed to obtain the Exchange’s consent to the change in its circumstances or arrangements as required by the Rules, the Member’s right to access to and/or deal in the Market and/or engaged in Block Trades on Cleartrade Block Trading Facility (or any one or more of such permissions) may be suspended for such time as the Directors see fit. Suspension under this paragraph shall not prejudice the power of the Directors or Compliance Committee to commence disciplinary proceedings in respect of the failure.

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