CHAPTER III

AUTHORISATION OF CSDs

(Article 17 of Regulation (EU) No 909/2014)
SECTION 4

Conduct of business rules

Goals and objectives
Article 18
An application for authorisation shall include a description of the goals and objectives of the applicant CSD referred to in Article 32(1) of Regulation (EU) No 909/2014.

Handling of complaints
Article 19
An application for authorisation shall include the procedures the applicant CSD has established for the handling of complaints.

Requirements for participation
Article 20
An application for authorisation shall include all necessary information concerning the participation in the securities settlement systems operated by the applicant CSD in accordance with Article 33 of Regulation (EU) No 909/2014 and Articles 88-90 of this Regulation. That information shall include the following:
1. the criteria for participation that allow fair and open access for all legal persons that intend to become participants in the securities settlement systems operated by the applicant CSD;
2. the procedures for the application of disciplinary measures against existing participants that do not comply with the criteria for participation.

Transparency
Article 21
1
An application for authorisation shall include the documents and information on the pricing policy of the applicant CSD concerning services referred to in Article 34 of Regulation (EU) No 909/2014. That information shall include in particular the prices and fees for each core service provided by the applicant CSD and any existing discounts and rebates, as well as the conditions for the reductions.
2
The applicant CSD shall provide the competent authority with a description of methods used to disclose the relevant information in accordance with paragraphs (1), (2), (4) and (5) of Article 34 of Regulation (EU) No 909/2014.
3
An application for authorisation shall include information allowing the competent authority to assess how the applicant CSD intends to comply with the requirements to account separately for costs and revenues in accordance with Article 34(6) and (7) of Regulation (EU) No 909/2014.

Communication procedures with participants and other market infrastructures
Article 22
An application for authorisation shall include the relevant information concerning the use by the applicant CSD of international open communication procedures and standards for messaging and reference data in its communication procedures with participants and other market infrastructures.