15.1.2 Off-order-book trades15.1.2.1 General provisions 1 Following an off-order-book trade, the central counterparty concludes two separate contracts: one with the buying participant as the seller, and one with the selling participant as the buyer. Under its own terms, it may reject the trade or refuse to act as the central counterparty. 2 An off-order-book trade gives rise to a contract between the participants concerned. This contract remains effective even if the trade is rejected by the central counterparty. Notwithstanding any agreements to the contrary between the Participants, the provisions of Clause 14.2.1 shall apply by analogy in such cases.
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