In this Part—

• “application” means an application for a recognition order made under section 287 F10, 288 or 288A;

• “applicant” means a F11person who has applied for a recognition order;

• F6...

• F4“central counterparty” means a body corporate or unincorporated association which interposes itself between the counterparties to the contracts traded on one or more financial markets, becoming the buyer to every seller and the seller to every buyer;

• F4“central counterparty recognition order” means a recognition order made under section 290(1)(b);

• F4“clearing”, in relation to a central counterparty, means the process of establishing positions, including the calculation of net obligations and ensuring that financial instruments, cash, or both, are available to secure the exposures arising from those positions; and “clearing services”, in relation to a central counterparty, is to be read accordingly;

• F14“CSD recognition order” means a recognition order made under section 290(1)(d);

• F14“EEA CSD” has the meaning given in section 285;

• F4“the EMIR regulation” means Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories F19as last amended by Regulation (EU) 2019/2099 of the European Parliament and of the Council of 23 October 2019, and any reference to the requirements contained in that Regulation includes a reference to requirements contained in any directly applicable EU regulation made under its provisions;

• F1“multilateral trading facility” has the meaning given in Article F154.1.22 of the markets in financial instruments directive;

• F16“organised trading facility” has the meaning given in Article 4.1.23 of the markets in financial instruments directive;

• F7...

• “overseas applicant” means a body corporate or association which has neither its head office nor its registered office in the United Kingdom and which has applied for a recognition order;

• “overseas investment exchange” means a body corporate or association which has neither its head office nor its registered office in the United Kingdom and in relation to which a recognition order is in force;

• F5“overseas clearing house” means a body corporate or association which is not a central counterparty and has neither its head office nor its registered office in the United Kingdom and in relation to which a recognition order is in force;

• “recognised body” means a recognised investment exchange F12, a recognised clearing house or a recognised CSD;

• F4“recognised central counterparty” has the meaning given in section 285;

• “recognised clearing house” has the meaning given in section 285;

• F14“recognised CSD” has the meaning given in section 285;

• “recognised investment exchange” has the meaning given in section 285;

• “recognition order” means an order made under section 290 or 292;

• “recognition requirements” has the meaning given by section 286;

• F2“regulated market” has the meaning given in Article F174.1.21 of the markets in financial instruments directive;

• “remedial direction” has the meaning given in section 308(8);

• “revocation order” has the meaning given in section 297.

• F18“trading venue” means a multilateral trading facility, a regulated market or an organised trading facility.

• F6...

For the purposes of this Part, a clearing house does not include a central securities depository.