Retained EU Law SI 2017/581 United Kingdom

Commission Delegated Regulation (EU) 2017/581 of 24 June 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards on clearing access in respect of trading venues and central counterparties (Text with EEA relevance)

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Financial Services Firm7 Any Person1

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Financial Services Firm — also bound by 167 other Acts
Any Person — also bound by 2340 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art001 Conditions on the denial of access by a CCP Regulated
  • CCP must assess risks before denying accessFinancial Services Firm
s.art005 Conditions on the denial of access by a trading venue Regulated
  • Assess risks and justify any denial of access by your trading venueFinancial Services Firm
s.art009 Conditions under which access must be permitted Regulated
  • Ensure access agreements with CCPs or trading venues meet regulatory requirementsAny Person
s.art010 Non-discriminatory and transparent clearing fees charged by CCPs Regulated
  • Charge clearing fees fairly and provide transparent fee schedulesFinancial Services Firm
s.art011 Non-discriminatory and transparent fees charged by trading venues Regulated
  • Charge fees on objective criteria and ensure transparency for CCP accessFinancial Services Firm
s.art012 Collateral and margining requirements of economically equivalent contracts Regulated
  • Apply same margin and collateral to economically equivalent contractsFinancial Services Firm
s.art013 Netting of economically equivalent contracts Regulated
  • Apply uniform netting procedures to economically equivalent contractsFinancial Services Firm
s.art014 Cross-margining of correlated contracts cleared by the same CCP Regulated
  • Apply portfolio margining consistently to all correlated contractsFinancial Services Firm
13 other provisions — procedural and definitional
s.art002 Denial of access by a CCP based on the anticipated volume of transactions
s.art003 Denial of access by a CCP based on operational risk and complexity
s.art004 Denial of access by a CCP based on other factors creating significant undue risks
s.art006 Denial of access by a trading venue based on operational risk and complexity
s.art007 Denial of access by a trading venue based on other factors creating significant undue risks
s.art008 Conditions under which access is deemed to threaten the smooth and orderly functioning of markets or adversely affect systemic risk
s.art015 Notification procedure from the CCP to its competent authority
s.art016 Notification procedure from the competent authority to ESMA and the CCP college
s.art017 Notification procedure from the trading venue to its competent authority regarding the initial transitional period
s.art018 Notification procedure from the trading venue to its competent authority regarding an extension of the transitional period
s.art019 Further specifications for the calculation of notional amount
s.art020 Approval and verification method by ESMA
s.art021 Entry into force and application

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.