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Terminating a Participation Agreement

According to § 77a of the Rules of Transaction Clearing (Organised Trading) a participation agreement may be terminated:
  1. on request of a clearing member;
  2. by agreement of the parties;
  3. according to a unilateral declaration made by KDPW_CCP in the procedure referred to in § 77b (cancellation of participation).

According to § 15a sub-para. 4 of the Rules of Transaction Clearing (Organised Trading), a clearing member ceases to perform obligations arising from the clearing of transactions made by another entity upon the termination or amendment of the participation agreement to that extent.

The terms and conditions of terminating a participation agreement are set out in detail in the Rules of Transaction Clearing (Organised Trading) (Chapter V)