913.A.            Voluntary Withdrawal

A clearing member may withdraw from clearing membership upon approval of Clearing House staff, and ratification by the Clearing House Risk Committee. Clearing House staff shall base its decision on all relevant factors, including, but not limited to, whether the withdrawal is consistent with the best interests of the Exchange, the Clearing House, the membership and the public. The withdrawal shall be effective on the date that the withdrawal is posted. (11/29/07)

913.B.            Release of Security Deposit, Membership and Class B Share Proceeds and Assignments

When a clearing member withdraws from clearing membership (whether voluntarily or involuntarily), its security deposit, the proceeds from the sale of its memberships and its Class A Shares assigned for clearing qualification or any other deposits required by the Clearing House, and any remaining assets available to the Exchange and the Clearing House including, but not limited to, memberships and Class A Shares will be released when Exchange and Clearing House staff determine that the following has occurred: (1) all contracts and obligations with the Exchange and the Clearing House have been settled and paid, (2) all sums owing to the Exchange have been paid, (3) all obligations to other members and customers arising out of claims directly related to futures transactions cleared on the Exchange have been paid or otherwise provided for, and (4) all obligations to other members and customers arising out of other arbitration claims filed pursuant to Chapter 6 have been paid or otherwise provided for and (5) the requisite liquidity providers for the Exchange have released the security interest in such clearing member's "Assets" contemplated by Rule 817 in accordance with the terms of the liquidity facility contemplated thereby; provided, however, that in the event that Exchange and Clearing House staff determine that all of the foregoing other than (4) have occurred, the Clearing House Risk Committee may in its discretion authorize the release of such property.

Generally, no such property shall be released prior to the 60th day following the effective date of the clearing member's withdrawal from membership in the Clearing House. Notwithstanding the above, Exchange and Clearing House staff may grant an exemption to the above restriction for good cause shown. Further, for purposes of the paragraph above, all obligations of the withdrawing clearing member to the Exchange or the Clearing House, of whatever nature or kind, shall be accelerated and become due and payable upon the effective date provided for in the Clearing House Risk Committee decision to approve the withdrawal. (11/29/07)