Updated 22/12/2024
In force

Version from: 07/01/2021
Amendments (6)
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Article 5 - Exchange of information among authorities

Article 5

Exchange of information among authorities

1.  
Each member of a college shall provide, in a timely manner, the CCP’s competent authority with all information necessary for the operational functioning of the college and for the performance of the key activities in which the member participates. The CCP’s competent authority shall provide the members of the college with similar information in a timely manner.
2.  

 The CCP’s competent authority shall at least provide the following information to the college members:

(a) 

significant changes to the structure and ownership of the CCP’s group;

(b) 

significant changes in the level of the CCP’s capital;

(c) 

changes in the organisation, senior management, processes or arrangements when those changes have a significant impact on governance or risk management;

(d) 

a list of clearing members of the CCP;

(e) 

details of the authorities involved in the supervision of the CCP, including any changes in their responsibilities;

(f) 

information on any material threats to the CCP’s ability to comply with Regulation (EU) No 648/2012 and relevant delegated and implementing regulations;

(g) 

difficulties that have potentially significant spill-over effects;

(h) 

factors which suggest a potentially high risk of contagion;

(i) 

significant developments in the financial position of the CCP;

(j) 

early warnings of possible liquidity difficulties, or major fraud;

(k) 

events of member default and any follow-up actions;

(l) 

sanctions and exceptional supervisory measures;

(m) 

reports on performance problems or incidents occurred and remedial actions taken;

(n) 

regular data on the activity of the CCP, the scope and frequency of which shall be agreed as part of the written agreement described in Article 2;

(o) 

overview of major commercial proposals, including new products or services to be offered;

(p) 

changes in the CCP’s risk model, stress testing and back testing;

(q) 

changes in the CCP’s interoperability arrangements, where applicable;

(r) 

changes in any outsourcing arrangements of the CCP for major activities linked to risk management;

(s) 

changes in the participation requirements, clearing membership models and account segregation models of the CCP;

(t) 

changes in the default procedures of the CCP, and reports on the test of the CCP’s default procedures conducted by the CCP in accordance with Article 49(2) of Regulation (EU) No 648/2012;

(u) 

changes in the payment and settlement arrangements of the CCP.

3.  
The exchange of information between the members of the college shall reflect their responsibilities and information needs. To avoid unnecessary information flows, the exchange of information shall be kept proportionate and risk-focused.
4.  
The members of the college shall consider the most effective ways of communicating information to ensure continuous, timely and proportionate exchange of information.
5.  
The risk assessment report to be prepared by a CCP’s competent authority in accordance with Article 19(1) of Regulation (EU) No 648/2012 report shall be submitted to the college within an appropriate timescale to ensure that college members are able to review it and contribute to it if required.
6.  
College members shall exchange confidential information by secure means of communication and on an equal basis.