Effective from 2021-12-27 - Dec 26 2021 To view other versions open the versions tab on the right
22.
As a part of appointing Settlement Agent, Indirect Participant must ensure that:
i)
the Settlement Agent is authorized to clear, settle and record transactions for Indirect Participants;
ii)
the Settlement Agent has operational, technical, financial and organizational capacity to support the needs of the Indirect Participant;
iii)
it has identified all material dependencies on its Settlement Agent and must satisfy itself on the arrangements Settlement Agent has in response to those dependencies;
iv)
it has performed detailed risk assessment on the Settlement Agent; and
v)
all arrangements are in place with Settlement Agent to satisfy Indirect Participant's own clearing liabilities such for e.g. Intraday and / or Overnight Liquidity Facilities.
