7.4 Validity of Contracts

a. To be a valid Contract made on the Market, the Contract must give rise to a Contract under Clearing House Rules that is not void or voided and must be:

i. executed on the Cleartrade Platform only by a registered Responsible Individual using his appropriate ITM;

ii. executed on the Cleartrade Platform by a Registered Responsible Individual of a Broking Member on behalf of a Trading Member using his appropriate ITM, provided that a verifiable mandate has been given to that Broker to execute such a trade;

iii. executed in accordance with this Rule 7; or

expressly authorized by the Exchange in its absolute discretion pursuant to the Trading Procedures.

b. Subject to Rule 7 any power exercisable by the Board, the default rules, the Relevant Clearing House treating a Contract as void or voided and the Clearing House’s default rules: once a bid or offer made on the Market has been accepted in whole or in part there is no right of withdrawal.

c. Subject to Rule 7 any power exercisable by the Board and the Relevant Clearing House treating a Contract as void: acceptance of a bid or offer gives rise to a Contract between the two parties.

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