Jason:  Please review (I have others for you to see).
Also, Paul and I spoke  with Cadwalader this morning.
Please continue to check the international  exchanges online to see if you can locate clearinhouse rules for each  exchange.
Perhaps you can also find information on the regulatory scheme for  the jurisdictions.
I suspect we will have to hire outside counsel in each  country to answer our concerns.
Let's talk.
SS

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