Information Classification: General

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Exhibit C

Rulebook (redline)

Rule 101. General

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“Error Trade” has the meaning given that term in Rule 526(a)(2).

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(a) Rule 526. Cancellation Trade Cancellations and Error Correction with respect to 

Cleared ContractsCorrections. 

(1) Except as provided in Rule 526(a)(2) below, if a transaction is submitted to, 

but not accepted for clearing by, a Derivatives Clearing Organization, such transaction 

shall be deemed to be void ab initio following receipt of a clearing rejection notice from 

the Derivatives Clearing Organization and neither of the parties thereto nor the Company 

shall have any further responsibility for such transaction under these Rules. 

(2) Pursuant to the CFTC No-Action Letter No. 17-27 and for so long as the 

applicable relief provided therein is effective: A Participant shall promptly notify the 

Company, by sending an e-mail to support@swapex.com, of any trade executed on or 

subject to the Rules that contains an operational or clerical error (an “Error Trade”), 

and, as applicable, any offsetting and correcting trades. The Participants that are 

counterparties to the Error Trade shall be permitted to enter into an offsetting or 

correcting trade subject to the following: 

(i) If the Error Trade is not a Cleared Contract, the Company shall 

permit (x) the original counterparties to the Error Trade (or, if the wrong legal entity 

was assigned as a counterparty to the original transaction, the intended 

counterparties) to enter into a prearranged transaction that corrects the errors in the 

Error Trade or (y) the original counterparties to the Error Trade to enter into a 

prearranged transaction that offsets the Error Trade, in each case, using any 

applicable execution method described in Rule 524 above. 

(i)(ii) If the Error Trade is a Cleared Contract rejected from clearing by a 

Derivatives Clearing Organization , the Company shall permit the original 

counterparties to the Error Trade to enter into If the Company determines that a 

transaction is rejected from clearing by a Derivatives Clearing 

Organization because of a clerical or operational error or omission by the Company 

or by one of the counterparties to the transaction or its agent, a new transaction, 

with terms and conditions that match the terms and conditions of the original 

transaction, other than any such error or omission and time of execution using any 

applicable execution method as described in Rule 524 above and submit such new 

transaction for clearing., may be executed and submitted for clearing without 
Information Classification: General

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having been executed pursuant to the methods set forth in CFTC Regulation 

37.9(a)(2). If the Company is able to identify and determine how to correct the 

error or omission, it may execute the new transaction without obtaining the consent 

of the counterparties. If the Company is unable to determine how to correct the 

error or omission, the Company, at its election, may either (x) seek guidance from 

the counterparties with respect to how to correct the error, after which the Company 

may then correct the error with the consent of both counterparties, or (y) elect not 

to correct the error, in which case the transaction will be treated as void ab initio

and shall be cancelled by the Company. Execution of a new trade and resubmission 

of such trade to clearing pursuant to this Rule 526(a)(2)(iii) must occur as quickly 

as technologically practicable after the relevant Clearing Firm(s) receipt of notice 

of the rejection by the Derivatives Clearing Organization, but, in any event, no later 

than sixty (60) minutes from issuance of such notice. If the resubmitted transaction 

is rejected from clearing, such transaction will be void ab initio and shall be 

cancelled by the Company. The counterparties may not resubmit a new transaction 

a second time. The procedure set forth in this Rule 526(a)(2)(iii) is not available 

with respect to transactions that are rejected from clearing for credit reasons. 

(iii) If a clerical or operational error or omission made by the Company, 

one of the counterparties to a transaction or its agentthe Error Trade is not 

discovered until after a Required Transaction a Cleared Contract that has been 

cleared, the Company may shall permit the original counterparties to the Required 

TransactionError Trade to enter into a prearranged transaction that offsets the 

transaction carried on the books of the relevant Derivatives Clearing Organization, 

without such Required Transaction having to be executed pursuant to the methods 

required in CFTC Regulation 37.9(a)(2). The Company may using any applicable 

execution method as described in Rule 524 above. The Company shall also permit 

the original counterparties (or, if the wrong legal entity was assigned as a 

counterparty to the original transaction, the intended counterparties) to enter into a 

prearranged transaction that corrects the errors in the Error Trade using any 

applicable execution method as described in Rule 524 above original Required 

Transaction, without such transaction having to be executed pursuant to the 

methods required in CFTC Regulation 37.9(a)(2). Any Required 

Transactionsoffsetting or correcting transaction executed pursuant to this 

Rule 526(a)(2)(iiiii) must be executed and submitted for clearing not later than 

three days after the original, erroneous transaction was executed relevant 

Derivatives Clearing Organization accepted the Error Trade for clearing. If the 

offsetting or correcting transaction is rejected from clearing, such transaction will 

be void ab initio and shall be cancelled by the Company. The counterparties may 

not resubmit a new transaction a second time.

(ii)(iv) Except as otherwise required under the CEA or CFTC Regulation, 

the Company shall not directly or indirectly, including through a third-party service 

provider, disclose the identity of any counterparty to a Cleared Contract that has 

been executed anonymously. Participants shall not directly or indirectly, including 

through a third-party service provider, disclose the identity of any counterparty to 

a Cleared Contract that has been executed anonymously.
Information Classification: General

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(3) No Participant, Authorized Trader or Customer or prospective Participant, 

Authorized Trader or Customer may enforce a Breakage Agreement with another 

Participant, Authorized Trader or Customer, or require such an agreement as a condition 

to trading with such other Participant, Authorized Trader or Customer on or pursuant to 

the Rules in respect of a Cleared Contract.

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