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GEN 2.22.2

Past version: effective from 01/09/2005 - 13/07/2013
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A Person does not carry on an activity of the kind specified in GEN Rule 2.22.1 if he as the operator of the facility:

(a) is a counterparty to every transaction effected on the facility;
(b) acts as a central counterparty accepting the risk of default of any of its Clients or otherwise becomes the guarantor of the performance of every transaction effected using the facility;
(c) exercises discretion as to how the buying or selling interests interact on the facility; or
(d) is an Authorised Market Institution.
[Added][VER4/08-05]