Rule 288. Notice of Closing to Successive Parties

This rule is no longer applicable effective November 11, 2008.

When a contract other than a contract the close-out of which is governed by the rules of a Qualified Clearing Agency has been closed the member or member organization who closed the same, or who gave the order to close the same, shall immediately notify the member or member organization for whose account the contract was closed. The member or member organization receiving such a notification or receiving notification that a contract has been closed pursuant to the rules of a Qualified Clearing Agency shall immediately notify each succeeding party in interest and other members or member organizations to whom re-transmitted notice, as provided for in Rule 285, has been sent. Statements of resulting money differences, if any, shall also be rendered immediately.