Common use of Communication failures Clause in Contracts

Communication failures. (a) Each Member acknowledges that interruption or malfunction of communications including any third party telephone network fixed line service or malfunction of the Member’s systems or equipment or the Trading System may result in the Member’s Orders not being received or the Member not receiving information or access to the Trading System. (b) Each Member is responsible for taking reasonable and prudent steps to mitigate the risk of communication failures in relation to its own participation in the Exchange in accordance with its own business requirements. (c) If there is a communication failure, the Operator has no obligation to take account of or act on any Order or other communication from any Market Participant provided by any other means.