Common use of Rights of Client Clause in Contracts

Rights of Client. The Client acknowledges that any benefit or right obtained by a Participant upon registration of an OTC Options Market Transaction with ASX Clear by novation of an OTC Options Market Contract under the ASX Clear Operating Rules or any other legal result of registration is personal to the Participant and the benefit of that benefit, right or legal result does not pass to the Client. The Client has no rights, whether by way of subrogation or otherwise, against ASX Clear in relation to any transactions by the Participant (or any other Participant) in the OTC Options CCP Contract.