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+Article 17a 1. |
Article 17a 1.An accelerated procedure for authorisation of an extension of authorisation shall apply where a CCP intends to extend its business to additional services or activities as referred to in Article 15 and where such extension fulfils all of the following conditions:
(a)
it does not result in the CCP needing to adapt significantly its operational structure at any point in the contract cycle;
(b)
it does not include offering the clearing of contracts that cannot be liquidated in the same manner as or together with contracts already cleared by the CCP;
(c)
it does not result in the CCP needing to take into account material new contract specifications;
(d)
it does not result in the introduction of material new risks or significantly increase the CCP’s risk profile;
(e)
it does not include offering a new settlement or delivery mechanism or service which involves establishing links with a different securities settlement system, central securities depository or payment system which the CCP did not previously use. 1. Overview
1.1 References1.2 Identified Requirements1.3 Related Standards2. Identified Requirements
3. Related Standards
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