Passing on of buying-in Notices (read-on requests)
Where buying-in is not done on an immediate basis, the liable party may contact the Exchange before 17:30 London time on the business day prior to the buying-in date and request a read-on of the Notice. The notice should be read-on in respect of the transaction(s) for which settlement has been outstanding for the longest period of time.
If a buying-in notice is read-on, an instruction must be sent to the Exchange by the initial liable party together with a new buying-in request identifying the relevant member firm or transaction(s) in respect of which the notice is being read-on. In the event that the relevant transaction is a central counterparty transaction, the requesting party should indicate the trade code and the Exchange will then identify the ultimate liable party.
For notices submitted manually, the serial number from the original buying-in notice must be written in the Special Instructions box on the new buying-in request.
Once a read-on buying-in request has been submitted, it may only be withdrawn once the original transaction is settled or at the instigation of the original requesting party.
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