The Central Counterparties (Equivalence) (United States of America) (Commodity Futures Trading Commission) Regulations 2023
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3 Requirements for a specified CFTC-authorised CCP
(1) Regulation 2 only applies to a CFTC-authorised CCP specified in the Schedule where its internal rules and procedures include requirements equivalent to the following (but see regulation 4)— (a) in relation to all derivative contracts, at least one of the three options set out in paragraphs (a) to (c) of Article 28(1) (procyclicality) of the Regulatory Technical Standards, (b) in relation to derivative contracts executed on a regulated market, the requirement in Article 26(1)(b) (time horizons for the liquidation period) of the Regulatory Technical Standards, and (c) the requirement in Article 43(2) of EMIR (financial resources) relating to the default fund referred to in Article 42 and the other financial resources referred to in Article 43(1). (2) In this regulation— “regulated market” has the meaning given in Article 2(13) of MIFIR; “Regulatory Technical Standards” means Commission Delegated Regulation (EU) 153/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on requirements for central counterparties.
3 Requirements for a specified CFTC-authorised CCP
(1) Regulation 2 only applies to a CFTC-authorised CCP specified in the Schedule where its internal rules and procedures include requirements equivalent to the following (but see regulation 4)— (a) in relation to all derivative contracts, at least one of the three options set out in paragraphs (a) to (c) of Article 28(1) (procyclicality) of the Regulatory Technical Standards, (b) in relation to derivative contracts executed on a regulated market, the requirement in Article 26(1)(b) (time horizons for the liquidation period) of the Regulatory Technical Standards, and (c) the requirement in Article 43(2) of EMIR (financial resources) relating to the default fund referred to in Article 42 and the other financial resources referred to in Article 43(1). (2) In this regulation— “regulated market” has the meaning given in Article 2(13) of MIFIR; “Regulatory Technical Standards” means Commission Delegated Regulation (EU) 153/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on requirements for central counterparties.
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