In a notice sent to member firms on Tuesday, Liffe declared that RV Capital, a company founded in January 2006 by Jerome Roussel and Duncan Valentine to make markets in a range of exchange-traded options, was “a defaulter for the purposes of enabling action to be taken under Section 9 of Book II of the Rules (Default Rules)”.
It added: “The Exchange and LCH.Clearnet Ltd are in close contact with RV’s clearing member, who has confirmed that it will continue to manage the relevant open positions on the market.”
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