5.3 Conduct in relation to Trading

5.3.1 No Member (or other person subject to the Rules) shall in relation to Contracts entered into, or orders placed, on the Market or otherwise in accordance with the Rules:-

a. commit any act of fraud or bad faith;

b. act dishonestly;

c. engage or attempt to engage in extortion;

d. continue (otherwise than to liquidate existing positions) to trade or enter into such Contracts knowingly disseminate false, misleading or inaccurate reports concerning any product or market information or conditions that affect or tend to affect prices on the Market;

e. manipulate or attempt to manipulate the Market, nor create or attempt to create a disorderly Market, nor assist its clients, or any other person to do so;

f. make or report a false or fictitious trade;

g. enter into any Contract or fail to close out the same either intending to default in performance of the same or having no reasonable grounds for thinking that it would be able to avoid such default (provided that it shall not be sufficient to have intended to comply with any contractual or other provision governing the consequences of default);

h. use or reveal any information confidential to the Exchange or another person obtained by reason of participating in any investigation or disciplinary proceedings; or

i. otherwise commit or cause to commit a breach of the SFA.


5.3.2 For the purposes of these Rules, an act of misconduct is:

a. any conduct contrary to Rule 1;

b. participation in conduct by a third party which would be a violation or attempted violation of these Rules if that third party were subject to these Rules;

c. a failure to pay a fine or order for costs imposed by the Compliance Committee that had not been overturned by an Appeal;

d. any other event or practice which has developed or is developing on the Exchange and is thought to be capable of impairing the orderly conduct of business on the Exchange or affecting the due performance of contracts;

e. provision to the Exchange of information (including information for the purpose of obtaining membership) which is false, misleading or inaccurate in a material respect;

f. ceasing to meet eligibility criteria for membership as set out in the Rules without notifying the Exchange;

g. any other matter of which the Exchange may, from time to time, notify Members through administrative notices issued to Members; or

h. breaches of the SFA in relation to misconduct.

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