Common use of Acceptance rules Clause in Contracts

Acceptance rules. The following acceptance rules apply to Spread Products in place of the rules in clause 13.1.3: (a) where only one open Bid for a Spread Product and one open Offer for a Spread Product match, the Spread Product Price is the price of the earliest Order displayed (determined by reference to the Time Stamp for each Order); (b) where an open Bid for a Spread Product matches one or more open Offers for a Spread Product, then the Spread Product Price is the price of the open Offer with the lowest price or, where the lowest price is common to two or more Offers, the Offer with the lowest price which was submitted first in time (as indicated by the most recent Time Stamp for each Offer); and (c) where an open Offer for a Spread Product matches one or more open Bids for a Spread Product, then the Spread Product Price is the price of the open Bid with the highest price or, where the highest price is common to two or more Bids, the Bid with the highest price which was submitted first in time (as indicated by the most recent Time Stamp for each Bid).

Acceptance rules. The following acceptance rules apply to Spread Products in place of the rules in clause 13.1.313.1.93: (a) where only one open Bid for a Spread Product and one open Offer for a Spread Product match, the Spread Product Price is the price of the earliest Order displayed (determined by reference to the Time Stamp for each Order); (b) where an open Bid for a Spread Product matches one or more open Offers for a Spread Product, then the Spread Product Price is the price of the open Offer with the lowest price or, where the lowest price is common to two or more Offers, the Offer with the lowest price which was submitted first in time (as indicated by the most recent Time Stamp for each Offer); and (c) where an open Offer for a Spread Product matches one or more open Bids for a Spread Product, then the Spread Product Price is the price of the open Bid with the highest price or, where the highest price is common to two or more Bids, the Bid with the highest price which was submitted first in time (as indicated by the most recent Time Stamp for each Bid).

Acceptance rules. The following acceptance rules apply to Spread Products in place of the rules in clause 13.1.3: (a) where only one open Bid for a Spread Product and one open Offer for a Spread Product match, the Spread Product Price is the price of the earliest Order displayed (determined by reference to the Time Stamp for each Order); (b) where an open Bid for a Spread Product matches one or more open Offers for a Spread Product, then the Spread Product Price is the price of the open Offer with the lowest price or, where the lowest price is common to two or more Offers, the Offer with the lowest price which was submitted first in time (as indicated by the most recent Time Stamp for each Offer); and (c) where an open Offer for a Spread Product matches one or more open Bids for a Spread Product, then the Spread Product Price is the price of the open Bid with the highest price or, where the highest price is common to two or more Bids, the Bid with the highest price which was submitted first in time (as indicated by the most recent Time Stamp for each Bid).