2.6 Scope of Participant Acitivities

2.6.1           A Clearing Member shall, in accordance with the elections it has communicated to the Exchange in respect of the Contracts it wishes to trade or accept for clearing from Authorized Members as required under Rule 2, be permitted to:

 

  • transact own business and business for clients which are Authorized Members and receive trades from such clients whether executed directly by such clients or by authorized Broking Members or Block Trade Broking Members through the Cleartrade platform for credit approval prior to and with the purpose of clearing such business at the Relevant Clearing House in conformity with the Rules:

 

  • those Freight Contracts available for trading on the Cleartrade Platform;

and/or

  • IronOre and Steel Contracts available for trading on the Cleartrade Platform;

and/or

  • Fertilizer Contracts available for trading on the Cleartrade Platform;

and/or

  • Any other Contracts which may become available for trading on the Cleartrade Platform.

 

  • register any number of Responsible Individuals;
  • become counterparty to the Relevant Clearing House in accordance with the Relevant Clearing House Rules in respect of the trades made by the Clearing Member or any of its clients which are  Authorized Members on the Cleartrade Platform; and
  • accept allocations of Contracts made on the Cleartrade Platform by other Members with which it has made adequate clearing arrangements.

 

2.6.2           An Authorized Member shall, in accordance with the elections it has communicated to the Exchange in respect of the Contracts it wishes to trade as required under Rule 2, be permitted to:

 

  • trade for own business in conformity with the Rules:

 

  • those Freight Contracts available for trading on the Cleartrade Platform;

and/or

  • IronOre and Steel Contracts available for trading on the Cleartrade Platform;

and/or

  • Fertilizer Contracts available for trading on the Cleartrade Platform;

and/or

  • Any other Contracts which may become available for trading on the Cleartrade Platform.

 

  • register any number of Responsible Individuals;
  • authorize any number of Broking Members and Block Trade Broking Members to execute business on the Cleartrade Platform and the Cleartrade Block Trade Facility on its behalf.

 

2.6.3           A Broking Member shall, in accordance with the elections it has communicated to the Exchange in respect of the Contracts it wishes to trade as required under Rule 2, be permitted to:

 

  • to execute business on behalf of Authorized Members and/or Block Trading Members only provided such Members have authorized the Broking Member to do so.

 

  • those Freight Contracts available for trading on the Cleartrade Platform;

and/or

  • IronOre and Steel Contracts available for trading on the Cleartrade Platform;

and/or

  • Fertilizer Contracts available for trading on the Cleartrade Platform;

and/or

  • Any other Contracts which may become available for trading on the Cleartrade Platform.

 

  • register any number of Responsible Individuals.

 

2.6.4           A Block Trade Broking Member shall, in accordance with the elections it has communicated to the Exchange in respect of the Contracts it wishes to trade as required under Rule 2, be permitted to:

 

  • to execute business on behalf of Authorized Members or Block Trading Members only to be registered using the Block Trading Facilities provided by the Exchange provided such Members have authorized the Block Trade Broking Member to do so.

 

  • those Freight Contracts available for trading on the Cleartrade Platform;

and/or

  • IronOre and Steel Contracts available for trading on the Cleartrade Platform;

and/or

  • Fertilizer Contracts available for trading on the Cleartrade Platform;

and/or

  • Any other Contracts which may become available for trading on the Cleartrade Platform.

 

  • register any number of Responsible Individuals.

 

2.6.5           A Block Trade Broking Member shall, in accordance with the elections it has communicated to the Exchange in respect of the Contracts it wishes to enter into Cleartrade Block Trading Facility on behalf of Authorized Members (trading and/or clearing as required under Rule 2), only be permitted to access Cleartrade Block Trading Facility to enter Block Trades for such communicated Contracts.

 

2.6.6           A Block Trading Member in accordance with the elections it has communicated to the Exchange in respect of the Contracts it wishes to have entered into the Cleartrade Block Trading Facility allow the transaction of own business only to be registered via an authorized Broking Member or a Block Trade Broking Member using the Block Trading Facilities provided by the Exchange.

 

2.6.7           The Trading Procedures shall apply to all Members who trade on the Cleartrade Platform and using the Cleartrade Block Trading Facility (and to any Responsible Individual or any trader or broker acting in the name of a Member).

 

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