CHAPTER IIRECOGNITION OF THIRD COUNTRY CCPs(Article 25 of Regulation (EU) No 648/2012)

Article 2Information to be provided to ESMA for the recognition of a CCP

An application for recognition submitted by a CCP established in a third country shall contain at least the following information:

  1. (a)

    full name of the legal entity;

  2. (b)

    identities of the shareholders or members with qualifying holdings;

  3. (c)

    a list of the Member States in which it intends to provide services;

  4. (d)

    classes of financial instruments cleared;

  5. (e)

    details to be included in the ESMA website in accordance with Article 88(1)(e) of Regulation (EU) No 648/2012;

  6. (f)

    details of its financial resources, the form and methods in which they are maintained and the arrangements to secure them including default management procedures;

  7. (g)

    details on the margin methodology and for the calculation of the default fund;

  8. (h)

    a list of the eligible collateral;

  9. (i)

    a breakdown of values, in prospective form if needed, cleared by the applying CCP by each Union currency cleared;

  10. (j)

    results of the stress tests and back tests performed during the year preceding the date of application;

  11. (k)

    its rules and internal procedures with evidences of full compliance with the requirements applicable in that third country;

  12. (l)

    details of any outsourcing arrangements;

  13. (m)

    details on segregation arrangements and respective legal soundness and enforceability;

  14. (n)

    details on the CCP’s access requirements and terms for suspension and termination of membership;

  15. (o)

    details of any interoperability arrangement, including the information provided to the third country competent authority for the purpose of assessing the arrangement.