Common use of Counterparty Risks Clause in Contracts

Counterparty Risks. All settlement of trades occurs outside the Exchange and the Exchange is not responsible for the settlement of trades of the Security Tokens and/or Digital Payment Tokens on the Trading System. Whilst the Exchange operates on a cash and Security Tokens and/or Digital Payment Tokens upfront basis and has powers under the Exchange Rules to facilitate settlement, there may be situations where a trade is not settled. In such an event, a Member may have to seek legal remedies against the counterparty Member.

Counterparty Risks. All settlement of trades occurs outside the Exchange and the Exchange is not responsible for the settlement of trades of the Security Tokens and/or Digital Payment Tokens on the Trading System. Whilst the Exchange operates on a cash and Security Tokens and/or Digital Payment Tokens upfront basis and has powers under the Exchange Rules to facilitate settlement, there may be situations where a trade is not settled. In such an event, a Member may have to seek pursue legal remedies action against the counterparty Member.