Article 33 | Delegated Regulation 2018/1229

Article 33 - Payment of the cash compensation

Article 33

Payment of the cash compensation

For transactions cleared by a CCP, the CCP shall collect the cash compensation from the failing clearing members and pay the cash compensation to the receiving clearing members.

Where transactions have not been cleared by a CCP but executed on a trading venue, the failing trading venue members shall pay the cash compensation to the receiving trading venue members.

Where transactions have not been cleared by a CCP and have not been executed on a trading venue, the failing trading parties shall pay the cash compensation to the receiving trading parties.

CHAPTER II - Measures to prevent settlement fails (Article 2-12)

CHAPTER III - Measures to address settlement fails (Article 13-41)

Section I - Monitoring settlement fails (Article 13-15)

Section 2 - Cash penalties (Article 16-20)

Section 3 - Details of the buy-in process (Article 21-35)

Sub-section 1 - General (Article 21-25)

Sub-section 2 - Buy-in process for transactions cleared by a CCP (Article 26-27)

Sub-section 3 - Buy-in process for transactions not cleared by a CCP and executed on a trading venue (Article 28-29)

Sub-section 4 - Buy-in process for transactions not cleared by a CCP and not executed on a trading venue (Article 30-31)

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 compensation Article 33 - Payment of the cash compensation Article 34 - Payment of the costs of the buy-in Article 35 - Payment of the price difference

Section 4 - Timeframes for buy-in process (Article 36-38)

Section 5 - Systematic delivery failure (Article 39)

Section 6 - Settlement information (Article 40-41)

CHAPTER IV - Final provisions (Article 41a-42)

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Article 33 - Payment of the cash compensation

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