« AnteriorContinuar »
default to an officer of the Exchange, who shall
DEFAULT—CLOSING CONTRActs UNDER THE RULE
Should any member neglect to fulfill his con
shall be performed without charge. No party shall be permitted to supply offers to buy or sell securities closed for his account under the rule; and when a contract is closed under this rule any action of the defaulter, direct or indirect, by which the prompt fulfillment of such contract is delayed, hindered or evaded, to the detriment of the other contracting party, shall subject the of. fending party to suspension for not less than thirty days, in the discretion of the Governing Committee, by a vote of two-thirds of the members present at the meeting. When contracts are closed out under the rule, any member supplying the bid or offer, and not duly receiving or delivering the stock, as the case may be, renders himself liable to prosecution under this Article. Should any stock thus sold not be delivered until the next day, the contract shall continue, but the defaulting party shall be liable to pay such damage as may be assessed by the Arbitration
Committee The same rolas ... ... ---.