Article 7a 4.
Without prejudice to the right to bilaterally cancel the transaction, where the Commission has adopted an implementing act pursuant to paragraph 1 and where a failing participant has not delivered the financial instruments covered by that implementing act to the receiving participant within a period after the intended settlement date (‘extension period’) of five business days, a mandatory buy-in process shall be initiated. By way of derogation from the first subparagraph, based on the asset type and liquidity of the financial instruments concerned, the extension period may be increased to a maximum of seven business days where a shorter extension period would affect the smooth and orderly functioning of the markets concerned. By way of derogation from the first and second subparagraphs, where the transaction relates to a financial instrument traded on an SME growth market, the extension period shall be 15 business days unless the SME growth market decides to apply a shorter period.
1. Pregled
1.1 Sklici
1.2 Ugotovljene zahteve
1.3 Povezani standardi
2. Ugotovljene zahteve
3. Povezani standardi
|