+Article 7a 3.

Article 7a 3.

Counterparties that become subject to the obligation set out in paragraph 1, first subparagraph, shall ensure that all of the following requirements are met:

(a) 

the account is permanently functional, including with legal documentation, IT connectivity and internal processes associated to the account being in place;

(b) 

the counterparty has systems and resources available to be operationally able to use the account, even at short notice, for large volumes of the derivative contracts referred to in paragraph 6 of this Article at all times and to be able to receive, in a short period of time, a large flow of transactions from positions held in a clearing service of substantial systemic importance pursuant to Article 25(2c);

(c) 

all new trades of the respective counterparty in the derivative contracts referred to in paragraph 6 can be cleared in the account at all times;

(d) 

the counterparty clears in the active account trades which are representative of the derivative contracts referred to in paragraph 6 of this Article that are cleared at a clearing service of substantial systemic importance pursuant to Article 25(2c) during the reference period.

1. Ħarsa ġenerali

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Titlu Regolamentazzjoni

1.1 Referenzi

1.2 Rekwiżiti identifikati

1.3 Standards relatati

2. Rekwiżiti identifikati

Rekwiżiti
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3. Standards relatati

Standards
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