New Zealand Gazette – 1990 – No. 170

Page 3603

✨ Trading Members Conduct



28 SEPTEMBER NEW ZEALAND GAZETTE

(i) the bankruptcy of the Trading Member, or of a partner or a director of the Trading Member, as the case may be;

(ii) where, in the case of a company or any related company, a receiver, statutory manager, provisional liquidator or liquidator or a similar officer is appointed, or any resolution is passed or order made for the winding up or dissolution of the company;

(iii) where the Trading Member, or in the case of a partnership any of the partners, or in the case of a company, any of the directors, is convicted of an indictable offence;

(r) to observe, comply with and act consistently with these Articles and the By-Laws and with decisions of the Board and its committees, and to settle any dispute with another Member in the manner provided in the By-Laws and the Facilities Procedures Manual;

(s) to notify the Exchange of the existence of any agreement entered into by the Trading Member with an Introducing Broker Member pursuant to Article 9.1(q) and to advise the Exchange of the termination of any such agreement;

(t) to provide to each client written confirmation of each transaction executed for that client on a daily basis;

(u) to provide to each client a written monthly statement within seven days of the end of each calendar month showing:

(i) the opening cash balance for that month in the client’s account;
(ii) all deposits, credits, withdrawals and debits affecting the client’s account during that month;
(iii) the cash balance in the client’s account at the end of that month;
(iv) particulars of each futures or option contract that the Trading Member has, before or during that month, acquired on behalf of the client and that, as at the end of that month has not been disposed of;
(v) details of each outstanding call for an initial margin or variation margin in respect of a futures or option contract that the Trading Member has acquired on behalf of the client;

(v) to comply with all statutes and regulations for the time being in force relating to dealing in futures or option contracts;

provided that the Board may upon written application by a Trading Member dispense with, or temporarily postpone, observance by the Trading Member of any of the above obligations upon such conditions (if any) as the Board may think fit.

6.2 Failure by a Trading Member to comply with the provisions of clause 6.1, or otherwise to observe, comply with and act consistently with these Articles or the By-Laws or the decisions of the Board or its



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🏭 Trading Members Conduct (continued from previous page)

🏭 Trade, Customs & Industry
Conduct, Records, Financial Reports, Net Tangible Assets, Audits, Client Funds, Instructions, Authorities