| Article 7 |
Clearing member personnel handling futures clearing and settlement operations shall conform to the Rules Governing Responsible Persons and Associated Persons of Futures Commission Merchants. The minimum numbers of clearing and settlement personnel shall be as follows:
1. Individual clearing members: Three persons.
2. General clearing members: Five persons.
3. Special clearing members: Five persons.
The following clearing member associated persons, except where provided otherwise, shall not concurrently fill one another's positions nor may their positions be filled concurrently by personnel from other departments.
1. Margin collection and payment personnel.
2. Clearing and settlement accounting personnel.
3. Internal auditing personnel.
If a clearing member is a securities firm that concurrently operates futures business, the positions of its personnel handling the operations referred to in the preceding paragraph may be filled on a concurrent basis by its securities department personnel who handle operations of the same nature and who are qualified as futures associated persons.
The provisions of the preceding paragraph shall apply mutatis mutandis to a clearing member that is a financial institution that concurrently operates futures business, unless otherwise provided by other law or regulation.
Before carrying out clearing and settlement operations, the clearing member shall prepare a roster of the personnel responsible for the operations in the preceding paragraph and their supervisors, and register them with this Corporation. The clearing member shall report any changes in such personnel to this Corporation within five days and shall continue to be liable for their actions until the change has been registered. |
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