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:
- (a)
full name of the legal entity;
- (b)
identities of the shareholders or members with qualifying holdings;
- (c)
a list of the Member States in which it intends to provide services;
- (d)
classes of financial instruments cleared;
- (e)
details to be included in the ESMA website in accordance with Article 88(1)(e) of Regulation (EU) No 648/2012;
- (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;
- (g)
details on the margin methodology and for the calculation of the default fund;
- (h)
a list of the eligible collateral;
- (i)
a breakdown of values, in prospective form if needed, cleared by the applying CCP by each Union currency cleared;
- (j)
results of the stress tests and back tests performed during the year preceding the date of application;
- (k)
its rules and internal procedures with evidences of full compliance with the requirements applicable in that third country;
- (l)
details of any outsourcing arrangements;
- (m)
details on segregation arrangements and respective legal soundness and enforceability;
- (n)
details on the CCP’s access requirements and terms for suspension and termination of membership;
- (o)
details of any interoperability arrangement, including the information provided to the third country competent authority for the purpose of assessing the arrangement.