3.2 Appointment of Settlement Agent
Effective from Dec 27 2021 - Dec 26 2021
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| 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. | |