Interoperability among clearing corporations mandates linked risk frameworks, segregated inter CCP collateral and multilateral netting for settlement. Interoperability among clearing corporations requires recognised CCPs (excluding IFSCs) to enable consolidation of clearing across trading venues via peer-to-peer links under bilaterally approved risk frameworks or, where directed, participant links subject to host CCP rules. Inter-CCP collateral must cover exposures through prescribed margins and additional capital held in segregated accounts, settlement shall occur through multilateral netting on the rolling T+2 schedule, and default handling will follow the prescribed default waterfall. Multipartite agreements must address risk, settlement, surveillance, data sharing and dispute resolution.
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Interoperability among clearing corporations mandates linked risk frameworks, segregated inter CCP collateral and multilateral netting for settlement.
Interoperability among clearing corporations requires recognised CCPs (excluding IFSCs) to enable consolidation of clearing across trading venues via peer-to-peer links under bilaterally approved risk frameworks or, where directed, participant links subject to host CCP rules. Inter-CCP collateral must cover exposures through prescribed margins and additional capital held in segregated accounts, settlement shall occur through multilateral netting on the rolling T+2 schedule, and default handling will follow the prescribed default waterfall. Multipartite agreements must address risk, settlement, surveillance, data sharing and dispute resolution.
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