Regulation 43A - Winding Down of Operations of a Recognised Clearing Corporation
International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021 Chapter IV GENERAL OBLIGATIONS OF A RECOGNISED STOCK EXCHANGE AND A RECOGNISED CLEARING CORPORATION
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Orderly wind-down planning requires clearing corporations to settle, cease, or transfer positions and transfer members' assets. Recognised clearing corporations must maintain a bye-law-based framework for voluntary and involuntary winding down of critical operations and services. ... Summary
Orderly wind-down planning requires clearing corporations to settle, cease, or transfer positions and transfer members' assets.
Recognised clearing corporations must maintain a bye-law-based framework for voluntary and involuntary winding down of critical operations and services. The framework must provide for timely and orderly settlement, cessation, or transfer of positions, and for transfer of members' collateral, deposits, margins, and other assets to a recognised clearing corporation taking over the operations.
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