Common use of Rights of Client Clause in Contracts

Rights of Client. The Client acknowledges that any benefit or right obtained by a Clearing Participant upon registration of a contract with ASX Clear by novation of a contract under the ASX Clear Operating Rules or any other legal result of registration is personal to the Clearing 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 or ASX Clear in relation to any transactions by the Clearing Participant (or any other Clearing Participant or Market Participant) in the Derivative Market Contract.