+Article 24 Tiered participation arrangements
---+Article 24 1
---+Article 24 2
---+Article 24 3
---+Article 24 4

Article 24 Tiered participation arrangements

1. Vue d’ensemble

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Intitulé Réglementation
Article 24 1

1.   For the purpose of risk management, a SIPS operator shall ensure that the SIPS’s rules, procedures and contractual arrangements allow it to gather information about indirect participation in order to identify, monitor and manage any material risks to the SIPS arising from participation. This information shall, as a minimum, cover the following:

(a)

the activity that direct participants conduct on their own behalf and on behalf of indirect participants in proportion to the activity at system level;

(b)

the number of indirect participants that settle via individual direct participants;

(c)

the volumes and values of payments in the SIPS originating from each indirect participant;

(d)

the volumes and values of payments referred to in point (c) in proportion to those of the direct participant through which the indirect participant accesses the SIPS.

Article 24 2

2.   A SIPS operator shall identify material dependencies between direct and indirect participants that might affect the SIPS, taking into account the information referred to in paragraph 1.

Article 24 3

3.   A SIPS operator shall identify indirect participants who pose material risks to the SIPS and the direct participants through which they access the SIPS with a view to managing these risks.

Article 24 4

4.   A SIPS operator shall review the risks arising from tiered participation arrangements at least annually. It shall take mitigating action when needed to ensure that the risks are properly managed.

1.1 Références

1.2 Exigences identifiées

1.3 Normes associées

2. Exigences identifiées

Exigences
Source Exigence

3. Normes associées

Normes
Source Exigence