MIR 4.5.2

A Recognised Clearing House's Business Rules must:

(a) be based on objective criteria and not be discriminatory;
(b) set out the design and operation of the relevant systems;
(c) set out the Members' and other participants' obligations (including fees and materials costs):
(i) arising from the Recognised Clearing House's constitution and other administrative arrangements;
(ii) when undertaking transactions on its facilities; and
(iii) relating to professional standards that must be imposed on staff and agents of the Members and other participants when undertaking transactions on its facilities;
(d) set out the risk for Members and other participants when accessing and participating in such facilities;
(e) contain provisions for the resolution of Members' and other participants' disputes and an appeal process from the decisions of the Recognised Clearing House; and
(f) contain disciplinary proceedings, including any sanctions that may be imposed by the Recognised Clearing House against its Members and other participants.