Membership capacities are determined by the scope of the Member’s authorisation, licence or permission from the relevant competent authority, where such authorisation, licence or permission is required, though a Member may, if he so wishes, restrict such scope in respect of his activities on one or more of the Euronext Markets.

LIFFE’s Members are also classified in terms of the Member’s clearing capacity. LIFFE Clearing Members can be either General Clearing Members or Individual Clearing Members. Clearing Members can either be Brokers, Dealers or Broker-Dealers.

General Clearing Members can clear their own LIFFE business (financial futures & options and index and equity futures & options), the business transacted by other LIFFE Members (under the terms of a standard clearing agreement), and, if a Broker or a Broker-Dealer, their clients’ business (including Member client business). A General Clearing Member, subject to meeting the relevant criteria, may also be authorised to clear LIFFE commodity contracts.

Individual Clearing Members can clear their own LIFFE business (financial futures & options and index and equity futures & options) and, if a Broker or a Broker-Dealer, their clients’ LIFFE business (including Member client business), but may not clear the LIFFE business transacted by other Members.

As stated above, to become a Clearing Member of LIFFE a Member must also be a Member of LCH.Clearnet Limited. LCH.Clearnet Limited prescribes its own separate criteria including financial resource requirements.