CHAPTER II - Measures to prevent settlement fails (Article 2-12)Article 2 - Measures concerning professional clientsArticle 3 - Measures concerning retail clientsArticle 4 - Settlement facilitation and processingArticle 5 - Matching and population of settlement instructions Q&AArticle 6 - Tolerance levels Q&AArticle 7 - Cancellation facility Q&AArticle 8 - Hold and release mechanismArticle 9 - RecyclingArticle 10 - Partial settlement Q&AArticle 11 - Additional facilities and informationArticle 12 - Derogation from certain measures to prevent settlement fails Q&A
CHAPTER III - Measures to address settlement fails (Article 13-41)Section I - Monitoring settlement fails (Article 13-15)Article 13 - Details of the system monitoring settlement fails Q&AArticle 14 - Reporting settlement fails GLArticle 15 - Public disclosure on settlement fails Q&ASection 2 - Cash penalties (Article 16-20)Article 16 - Calculation and application of cash penalties Q&AArticle 17 - Collection and distribution of cash penalties Q&AArticle 18 - Costs of the penalty mechanism Q&AArticle 19 - Penalty mechanism for settlement fails relating to cleared transactions submitted by CCPs for settlementArticle 20 - CSDs that use a common settlement infrastructure Q&ASection 3 - Details of the buy-in process (Article 21-35)Sub-section 1 - General (Article 21-25)Article 21 - Buy-in not possibleArticle 22 - Ineffective buy-in process Q&AArticle 23 - Application of partial settlement Q&AArticle 24 - Buy-in agentArticle 25 - Contractual arrangements and proceduresSub-section 2 - Buy-in process for transactions cleared by a CCP (Article 26-27)Article 26 - Initial verification Q&AArticle 27 - Buy-in procedure and notifications Q&ASub-section 3 - Buy-in process for transactions not cleared by a CCP and executed on a trading venue (Article 28-29)Article 28 - Initial verification Q&AArticle 29 - Buy-in procedure and notifications Q&ASub-section 4 - Buy-in process for transactions not cleared by a CCP and not executed on a trading venue (Article 30-31)Article 30 - Initial verification Q&AArticle 31 - Buy-in procedure and notifications Q&ASub-section 5 - Calculation and payment of the cash compensation, of the buy-in costs and related price difference (Article 32-35)Article 32 - Calculation of the cash compensationArticle 33 - Payment of the cash compensationArticle 34 - Payment of the costs of the buy-inArticle 35 - Payment of the price differenceSection 4 - Timeframes for buy-in process (Article 36-38)Article 36 - Extension periods Q&AArticle 37 - Timeframes for the delivery of financial instrumentsArticle 38 - Duration of deferral of the execution of a buy-inSection 5 - Systematic delivery failure (Article 39)Article 39 - Consistent and systematic failure to deliver securities Q&AGLSection 6 - Settlement information (Article 40-41)Article 40 - Settlement information for CCPs and trading venuesArticle 41 - Settlement information in the absence of direct transaction feed from the trading venue
Section I - Monitoring settlement fails (Article 13-15)Article 13 - Details of the system monitoring settlement fails Q&AArticle 14 - Reporting settlement fails GLArticle 15 - Public disclosure on settlement fails Q&A
Section 2 - Cash penalties (Article 16-20)Article 16 - Calculation and application of cash penalties Q&AArticle 17 - Collection and distribution of cash penalties Q&AArticle 18 - Costs of the penalty mechanism Q&AArticle 19 - Penalty mechanism for settlement fails relating to cleared transactions submitted by CCPs for settlementArticle 20 - CSDs that use a common settlement infrastructure Q&A
Section 3 - Details of the buy-in process (Article 21-35)Sub-section 1 - General (Article 21-25)Article 21 - Buy-in not possibleArticle 22 - Ineffective buy-in process Q&AArticle 23 - Application of partial settlement Q&AArticle 24 - Buy-in agentArticle 25 - Contractual arrangements and proceduresSub-section 2 - Buy-in process for transactions cleared by a CCP (Article 26-27)Article 26 - Initial verification Q&AArticle 27 - Buy-in procedure and notifications Q&ASub-section 3 - Buy-in process for transactions not cleared by a CCP and executed on a trading venue (Article 28-29)Article 28 - Initial verification Q&AArticle 29 - Buy-in procedure and notifications Q&ASub-section 4 - Buy-in process for transactions not cleared by a CCP and not executed on a trading venue (Article 30-31)Article 30 - Initial verification Q&AArticle 31 - Buy-in procedure and notifications Q&ASub-section 5 - Calculation and payment of the cash compensation, of the buy-in costs and related price difference (Article 32-35)Article 32 - Calculation of the cash compensationArticle 33 - Payment of the cash compensationArticle 34 - Payment of the costs of the buy-inArticle 35 - Payment of the price difference
Sub-section 1 - General (Article 21-25)Article 21 - Buy-in not possibleArticle 22 - Ineffective buy-in process Q&AArticle 23 - Application of partial settlement Q&AArticle 24 - Buy-in agentArticle 25 - Contractual arrangements and procedures
Sub-section 2 - Buy-in process for transactions cleared by a CCP (Article 26-27)Article 26 - Initial verification Q&AArticle 27 - Buy-in procedure and notifications Q&A
Sub-section 3 - Buy-in process for transactions not cleared by a CCP and executed on a trading venue (Article 28-29)Article 28 - Initial verification Q&AArticle 29 - Buy-in procedure and notifications Q&A
Sub-section 4 - Buy-in process for transactions not cleared by a CCP and not executed on a trading venue (Article 30-31)Article 30 - Initial verification Q&AArticle 31 - Buy-in procedure and notifications Q&A
Sub-section 5 - Calculation and payment of the cash compensation, of the buy-in costs and related price difference (Article 32-35)Article 32 - Calculation of the cash compensationArticle 33 - Payment of the cash compensationArticle 34 - Payment of the costs of the buy-inArticle 35 - Payment of the price difference
Section 4 - Timeframes for buy-in process (Article 36-38)Article 36 - Extension periods Q&AArticle 37 - Timeframes for the delivery of financial instrumentsArticle 38 - Duration of deferral of the execution of a buy-in
Section 5 - Systematic delivery failure (Article 39)Article 39 - Consistent and systematic failure to deliver securities Q&AGL
Section 6 - Settlement information (Article 40-41)Article 40 - Settlement information for CCPs and trading venuesArticle 41 - Settlement information in the absence of direct transaction feed from the trading venue
CHAPTER IV - Final provisions (Article 41a-42)Article 41a - Transitional provisionsArticle 42 - Entry into force and application