HC Deb 26 October 1989 vol 158 c1225

3. The exchange must have adequate arrangements for securing that—

  1. (a) parties to unsettled market contracts with a defaulter acting as principal are notified as soon as reasonably practical of the default and of any decision taken under the rules in relation to contracts to which they are a party; and
  2. (b) parties to unsettled market contracts with a defaulter acting as agent and the defaulter's principals are notified as soon as reasonably practicable of the default and of the identity of the other party to the contract.