Article 11
Assessment of the overall impact of a CCP’s recovery plan on financial markets, including trading venues, served by the CCP
Competent authorities and supervisory colleges shall assess a CCP’s recovery plan’s adequacy in respect of its overall impact on financial markets, including trading venues, served by the CCP, by considering all of the following factors:
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(a) |
whether the potential impact of applying the recovery measures on trading venues as well as any other sources of trading connected to the CCP has been assessed in the recovery plan, including an assessment of the significance of the CCP’s involvement in those entities and whether the impact represents a threat to the stability of the entities concerned; |
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(b) |
whether the CCP provides, in addition to clearing services, any other or ancillary material or significant services linked to clearing, and whether any measure under the recovery plan might have an impact on the financial market served by the CCP, where the CCP provides such other or ancillary material or significant services. |