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					<dc:identifier>http://www.legislation.gov.uk/eur/2018/1229/article/26</dc:identifier><dc:title>Commission Delegated Regulation (EU) 2018/1229 of 25 May 2018 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on settlement discipline (Text with EEA relevance)</dc:title><dct:alternative>Commission Delegated Regulation (EU) 2018/1229</dct:alternative><dc:description>Commission Delegated Regulation (EU) 2018/1229 of 25 May 2018 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on settlement discipline (Text with EEA relevance)</dc:description><dc:publisher>King's Printer of Acts of Parliament</dc:publisher><dc:source>https://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02018R1229-20200827</dc:source><dc:type>text</dc:type><dc:format>text/xml</dc:format><dc:language>en</dc:language><dc:modified>2023-12-08</dc:modified><dc:contributor>Expert Participation</dc:contributor><dct:valid>2023-07-11</dct:valid>
					
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				</ukm:Metadata><EURetained><EUBody DocumentURI="http://www.legislation.gov.uk/eur/2018/1229/body" IdURI="http://www.legislation.gov.uk/id/eur/2018/1229/body" NumberOfProvisions="42" RestrictExtent="E+W+S+N.I." RestrictStartDate="2020-08-27"><EUChapter DocumentURI="http://www.legislation.gov.uk/eur/2018/1229/chapter/III" IdURI="http://www.legislation.gov.uk/id/eur/2018/1229/chapter/III" NumberOfProvisions="29" id="chapter-III" RestrictExtent="E+W+S+N.I." RestrictStartDate="2018-05-25"><Number>
               <Emphasis>CHAPTER III</Emphasis>
            </Number><Title>
               <Strong>
                  <Emphasis>Measures to address settlement fails</Emphasis>
               </Strong>
            </Title><EUSection DocumentURI="http://www.legislation.gov.uk/eur/2018/1229/chapter/III/section/3" IdURI="http://www.legislation.gov.uk/id/eur/2018/1229/chapter/III/section/3" NumberOfProvisions="15" id="chapter-III-section-3" RestrictStartDate="2018-05-25" RestrictExtent="E+W+S+N.I."><Number>
                  <Expanded>Section 3</Expanded>
               </Number><Title>
                  <Strong>
                     <Expanded>Details of the buy-in process</Expanded>
                  </Strong>
               </Title><EUSubsection DocumentURI="http://www.legislation.gov.uk/eur/2018/1229/chapter/III/section/3/subsection/2" IdURI="http://www.legislation.gov.uk/id/eur/2018/1229/chapter/III/section/3/subsection/2" NumberOfProvisions="2" id="chapter-III-section-3-subsection-2" RestrictStartDate="2018-05-25" RestrictExtent="E+W+S+N.I."><Number>
                     <Expanded>Sub-section 2</Expanded>
                  </Number><Title>
                     <Strong>
                        <Expanded>Buy-in process for transactions cleared by a CCP</Expanded>
                     </Strong>
                  </Title><P1group RestrictStartDate="2018-05-25" RestrictExtent="E+W+S+N.I."><Title>Initial verification</Title><P1 DocumentURI="http://www.legislation.gov.uk/eur/2018/1229/article/26" IdURI="http://www.legislation.gov.uk/id/eur/2018/1229/article/26" id="article-26">
                        <Pnumber>Article 26</Pnumber>
                        <P1para>
                           <P2 DocumentURI="http://www.legislation.gov.uk/eur/2018/1229/article/26/1" IdURI="http://www.legislation.gov.uk/id/eur/2018/1229/article/26/1" id="article-26-1">
                              <Pnumber PuncBefore="" PuncAfter=".">1</Pnumber>
                              <P2para>
                                 <Text>On the business day following the expiry of the extension period, CCPs shall verify whether a buy-in is possible in accordance with Article 21(a) in relation to any of the transactions it has cleared.</Text>
                              </P2para>
                           </P2>
                           <P2 DocumentURI="http://www.legislation.gov.uk/eur/2018/1229/article/26/2" IdURI="http://www.legislation.gov.uk/id/eur/2018/1229/article/26/2" id="article-26-2">
                              <Pnumber PuncBefore="" PuncAfter=".">2</Pnumber>
                              <P2para>
                                 <Text>Where a buy-in is not possible pursuant to Article 21(a), the CCP shall notify the failing clearing member of the cash compensation amount calculated in accordance with Article 32. The cash compensation shall be paid in accordance with Article 33(1).</Text>
                              </P2para>
                           </P2>
                           <P2 DocumentURI="http://www.legislation.gov.uk/eur/2018/1229/article/26/3" IdURI="http://www.legislation.gov.uk/id/eur/2018/1229/article/26/3" id="article-26-3">
                              <Pnumber PuncBefore="" PuncAfter=".">3</Pnumber>
                              <P2para>
                                 <Text>Where a buy-in is possible, Article 27 shall apply.</Text>
                              </P2para>
                           </P2>
                        </P1para>
                     </P1></P1group></EUSubsection></EUSection></EUChapter></EUBody></EURetained></Legislation>