Common use of Illiquid Markets Clause in Contracts

Illiquid Markets. Market Maker may refrain from submitting Post-Only Quotes during a period of illiquid underlying markets defined as, thinly traded markets in particular time periods as determined by xxxxxx.xxx | Derivatives North America from time to time and made public via posting on its website. A Market Maker that chooses to submit Post-Only Quotes during an Illiquid Market period will be required to comply with the Defined Spread and Defined Size requirements as set forth in Appendix A. (b) xxxxxx.xxx | Derivatives North America may amend the definitions of Modification Events and its applicable Rules unilaterally by providing 10 days’ written notice to the Market Maker. To the extent reasonably possible and practicable, xxxxxx.xxx | Derivatives North America will consult with the Market Maker and other relevant Market Makers prior to amending its Modification Events Rules. 5 CONFIDENTIALITY

Illiquid Markets. Market Maker may refrain from submitting Post-Only Quotes during a period of illiquid underlying markets defined as, thinly traded markets in particular time periods as determined by xxxxxx.xxx | Derivatives North America from time to time and made public via posting on its website. A Market Maker that chooses to submit Post-Only Quotes during an Illiquid Market period will be required to comply with the Defined Spread and Defined Size requirements as set forth in Appendix A. (b) xxxxxx.xxx | Derivatives North America may amend the definitions of Modification Events and its applicable Rules unilaterally by providing 10 days’ written notice to the Market Maker. To the extent reasonably possible and practicable, xxxxxx.xxx | Derivatives North America will consult with the Market Maker and other relevant Market Makers prior to amending its Modification Events Rules. xxxxxx.xxx | Derivatives North America 000 Xxxx Xxxxxxx Xxxx., Suite 1400 Chicago, IL 60606 5 CONFIDENTIALITY