In this act Article 10 of 62
- recRecitals 1–60
- 1Definitions
- 2Information to be provided to ESMA for the recognition of a CCP
- 3Governance arrangements
- 4Risk management and internal control mechanisms
- 5Compliance policy and procedures
- 6Compliance function
- 7Organisational structure and separation of the reporting lines
- 8Remuneration policy
- 9Information technology systems
- 10Disclosure
- 11Internal auditing
- 12General requirements
- 13Transaction records
- 14Position records
- 15Business records
- 16Records of data reported to a trade repository
- 17Strategy and policy
- 18Business impact analysis
- 19Disaster recovery
- 20Testing and monitoring
- 21Maintenance
- 22Crisis management
- 23Communication
- 24Percentage
- 25Time horizon for the calculation of historical volatility
- 26Time horizons for the liquidation period
- 27Portfolio margining
- 28Procyclicality
- 29Framework and governance
- 30Identifying extreme but plausible market conditions
- 31Reviewing extreme but plausible scenarios
- 32Assessment of liquidity risk
- 33Access to liquidity
- 34Concentration risk
- 35Calculation of the amount of the CCP’s own resources to be used in the default waterfall
- 36Maintenance of the amount of the CCP’s own resources to be used in the default waterfall
- 37General requirements
- 38Cash collateral
- 39Financial instruments
- 40Valuing collateral
- 41Haircuts
- 42Concentration limits
- 43Highly liquid financial instruments
- 44Highly secured arrangements for the deposit of financial instruments
- 45Highly secured arrangements maintaining cash
- 46Non-cash collateral
- 47Model Validation
- 48Testing programmes
- 49Back testing procedure
- 50Sensitivity testing and analysis procedure
- 51Stress testing procedure
- 52Risk factors to stress test
- 53Stress testing total financial resources
- 54Stress testing liquid financial resources
- 55Maintaining sufficient coverage
- 56Review of models using test results
- 57Reverse stress tests
- 58Testing default procedures
- 59Frequency
- 60The time horizons
- 61Information to be publicly disclosed
- 62Entry into force and application
- Annex IConditions applicable to financial instruments, bank guarantees, public guarantees and gold considered as highly liquid collateral
- Annex IIConditions applicable to highly liquid financial instruments
Article 10 — Disclosure
Financial servicesLevel 2RTSEMIRIn forceIn force on the date shown, by the dates in the Official Journal.VerifiedIdentical to the official source.Official source
10(1)(a)(iii)
(iii)key financial information including its most recent audited financial statements;
Copy link10(1)(b)(iii)
(iii)information on the CCP’s risk management systems, techniques and performance in accordance with Chapter XII;
Copy link10(1)(b)(iv)
(iv)all relevant information on its design and operations as well as on the rights and obligations of clearing members and clients, necessary to enable them to identify clearly and understand fully the risks and costs associated with using the CCP’s services;
Copy link10(1)(b)(v)
(v)the CCP’s current clearing services, including detailed information on what it provides under each service;
Copy link10(1)(b)(vi)
(vi)the CCP’s risk management systems, techniques and performance, including information on financial resources, investment policy, price data sources and models used in margin calculations;
Copy link10(1)(2)
(2)the contracts concluded by the CCP with clearing members and, where practicable, clients;
Copy link10(1)(5)
(5)the use of collateral and default fund contributions, including the liquidation of positions and collateral and the extent to which collateral is protected against third party claims;
Copy link10(1)(d)
(d)a list of all current clearing members, including admission, suspension and exit criteria for clearing membership.
Copy linkWhere the competent authority agrees with the CCP that any of the information under point (b) or (c) of this paragraph may put at risk business secrets or the safety and soundness of the CCP, the CCP may decide to disclose that information in a manner that prevents or reduces those risks, or not to disclose such information.
Full document 62 articles and 2 annexes on one page