Common use of Suspension of the Trading System Clause in Contracts

Suspension of the Trading System. (a) The Operator may at any time suspend access to and use of the Trading System (for all Members) at any time, either as a whole or for particular Products or functionality, if: (i) the Operator reasonably considers that it should do so to protect or restore the security of the Trading System or data contained in it, or to undertake Trading System maintenance or upgrades; (ii) the Trading System has been unavailable for a period of 15 minutes or longer; (iii) any Trading Participant is unable to access the Trading System and the Operator reasonably considers that suspension is necessary in order to ensure orderly trading on the Exchange (for example, the lack of access has affected a significant number of Trading Participants or a significant volume of open Orders). (b) If the Operator suspends the operation of the Trading System during Trading Hours then it will notify all Members of the suspension and give as much notice as possible of the time that it expects to lift the suspension.

Appears in 7 contracts

Samples: Gas Supply Hub Exchange Agreement, Gas Supply Hub Exchange Agreement, Gas Supply Hub Exchange Agreement

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Suspension of the Trading System. (a) The Operator may at any time suspend access to and use of the Trading System (for all Members) at any timeduring Trading Hours, either as a whole or for particular Products or functionality, if: (i) the Operator reasonably considers that it should do so to protect or restore the security of the Trading System or data contained in it, or to undertake Trading System maintenance or upgrades; (ii) the Trading System has been unavailable for a period of 15 minutes or longer; (iii) any Trading Participant is unable to access the Trading System and the Operator reasonably considers that suspension is necessary in order to ensure orderly trading on the Exchange (for example, the lack of access has affected a significant number of Trading Participants or a significant volume of open Orders). (b) If the Operator suspends the operation of the Trading System during Trading Hours then it will notify all Members of the suspension and give as much notice as possible of the time that it expects to lift the suspension.

Appears in 3 contracts

Samples: Gas Supply Hub Exchange Agreement, Gas Supply Hub Exchange Agreement, Gas Supply Hub Exchange Agreement

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