CHAPTER I U.K. NON-DISCRIMINATORY ACCESS TO CCPs AND TRADING VENUES

SECTION 2 U.K. Non-discriminatory access to trading venues

Article 7 U.K. Denial of access by a trading venue based on other factors creating significant undue risks

A trading venue may deny an access request on grounds of significant undue risks in any of the following cases:

(a)

threat to the economic viability of the trading venue or its ability to meet minimum capital requirements under Article 47(1)(f) of Directive 2014/65/EU of the European Parliament and of the Council(1);

(b)

incompatibility of trading venue rules and CCP rules that the trading venue cannot remedy in cooperation with the CCP.

(1)

Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.6.2014, p. 349).