17. DEFAULT MANAGEMENT
17.1.Default Rules
A Trading Facility Operator must have legally enforceable Default Rules which, in the event of a Member of the Operator being or appearing to be unable to meet its obligations in respect of one or more contracts, enable it:
- (1) to suspend or terminate such Member’s membership; and
- (2) to share information with its clearing house.
17.2.Public notice of suspended or terminated Membership
A Trading Facility Operator must issue a public notice on its website in respect of a Member whose membership is suspended or terminated.
17.3.Cooperation with office-holder
A Trading Facility Operator must be able and willing to cooperate, by the sharing of information and otherwise, with the AFSA, a relevant office-holder and any other authority or body having responsibility for a matter arising out of, or connected with, the default of a Member of the Operator or the default of a clearing house or another Operator.