Options Clearing Rules of SEOCH 
29/09/2017 
 

Options Clearing Rules of SEOCH

RULE(S)
Chapter 1 - Definitions and Interpretation
101

Definitions

102-105 Interpretation
106 Amendment
107-108 Exclusion of Liability
109 Governing Law
110 SEOCH Management of SEOCH Collateral
111-113 Notice
114-115 Transitional Provisions
Chapter 2 - Clearing by SEOCH
201 Acceptance for Clearing of Contracts
202 OCH Contracts and NCP Contracts
203-207 Terms of OCH Contracts
208-209 Terms of NCP Contracts
210 Effect of Give-ups on OCH Contracts and NCP Contracts
211 Effect of Novation or Discharge
212 Error Trades
213 Adjustments to Contracts
214 SEOCH Price Determinations

Chapter 3 - SEOCH Participantship

301-302 Categories of SEOCH Participantship
303 Qualification
304-307 Applications
308-312 Approval
313 Registration

Chapter 4 - SEOCH Participants' Obligations

401 Compliance with the Clearing Rules
402-404 Continuing Obligations
404A Reserve Fund Purpose
405-410 Reserve Fund Requirements
411 Maximum Current Liability to Contribute to the Reserve Fund
412-413AB SEOCH Use and Order of Application of the Reserve Fund
413A-413B Accounts of Reserve Fund
413C-413E Replenishment of Reserve Fund Contributions
414 Recoveries
415-418 No Transfer of SEOCH Participantship
419-427 Resignation as a SEOCH Participant
428-428A Confidentiality
429-434A Clearing Agreements
435-437 Monitoring by GCPs
438 Right to Demand Documents
439-441 Power to Make Inspections
442 Power of SEOCH to Modify the Terms of Continued Participantship
443 [Repealed]
444-446 Tax
Chapter 5 - Exercise, Delivery and Settlement

501-507

Exercise

508-511 Delivery and Settlement Under OCH Contracts
512 [Repealed]
513 Indemnity
Chapter 6 - Risk Management and Payment Procedures
601-602 Premium and Settlement Amounts
603-607 Margin and SEOCH Collateral
608-610A Margin, Premium and Settlement Amounts Calculation
611-613 Collection of Margin, Premium and Settlement Amounts by SEOCH
614-615 Intra-day Margin
615A Special Block Trade Margin
616 Interest
617-620 Fees, Levies and Charges
621-622 SEOCH CCMS Collateral Accounts
623 [Repealed]
624-630 Position Limits
631 Exercise Limits
Chapter 7 - Default Procedures
701-705 Default
706-712 General
713 Indemnity
714-717 GCP Obligations on Default, Resignation or other Relevant Circumstances
718-718A Suspension of SEOCH Participantship
719-721 Expulsion
722-723 Return of Reserve Fund Contributions of an Expelled or Resigning SEOCH Participant
724 Default Procedures Prevail

Chapter 8 - Disciplinary

801-802 Situations Calling for Disciplinary Action
803 Co-operation
804 Notification
805 Procedures
806 The SEOCH Board's Disciplinary Powers
807 Summary Offences

Chapter 9 - Emergency Procedures

901

Suspension of Access to the Options Clearing System

902 Emergency Committee
903 Typhoons and Rainstorms
904 Facsimile Instruction Entry

Chapter 10 - Stamp Duty

1001

Stamp Duty Assessment and Collection

Chapter 11 - DCASS

1101 Introduction
1102-1107 Connection to DCASS
1108-1112 DCASS Equipment and Software
1112A Backup Centre for DCASS
1113-1114 Liability of SEOCH Participants

Chapter 12 - CCMS

1201 Introduction
1202-1205 Connection to CCMS
1206-1210 CCMS Equipment and Software
1211 Backup Centre for CCMS
1212-1213 Liability of SEOCH Participants
First Schedule Process for Substitution and Novation of Options Contracts
Second Schedule Effect of Give-Ups on OCH Contracts and NCP Contracts

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