Examples of Tiered participation in a sentence
Standard 19: Tiered participation arrangements requires a recognized clearing agency to identify, monitor, and manage the material risks to the clearing agency arising from any tiered participation arrangements.
For more detail on indirect participation, see Principle 19, Tiered participation arrangements.
The remaining five PMFIs applicable to SIPS – Principle 4 (Credit risk), Principle 5 (Collateral), Principle 7 (Liquidity risk), Principle 16 (Custody and investment risks), and Principle 19 (Tiered participation arrangements) – are considered too demanding for systems that do not pose such a high financial risk to the market.
Principle 19: Tiered participation arrangementsAn FMI should identify, monitor, and manage the material risks to the FMI arising from tiered participation arrangements.
In total, eight of the twenty-four Principles have not been assessed for the RTGS Service.13 While Principle 7 – Liquidity risk and Principle 19 – Tiered participation arrangements have not been assessed, as they do not apply due to the nature of the RTGS Service, an explanation is provided in the principle-by-principle narrative as the rationale is less self-evident given the respective responsibilities of the Bank, as operator of RTGS, and the role of the payment system operators.
Principle 19: Tiered participation arrangements (indirect participants can obtain access to Clearing and Settlement services rendered by CAVALI through a direct participant prior CAVALI’S assessment and authorization.) Principle 24: Disclosure of market data by the trade repositories (this principle is only applicable to Trade Repositories (TRs).
Tiered participation arrangements occur when clearing members (direct participants) provide access to clearing services to third parties (indirect participants).
Contract Highlights: • Tiered participation levels (basic, co-primary, and primary) • Exclusive general discount structure for E&I members • Standalone programs (exclusive of furniture) • Tiered market basket • Member-specific hotlist O C D E • Access to additional services & technological tools E V I T I T E P M T I C I L O S Y L • Custom pricing options and incentives To learn more about this competitively solicited contract, please visit xxx.xxxxx.xxx/contracts/vwr.
Principle 19: Tiered participation arrangementsAn FMI should identify, monitor, and manage the material risks to the FMI arising from tiered participation arrangements 19.1 An FMI should ensure that its rules, procedures, and agreements allow it to gather basic information about indirect participation in order to identify, monitor, and manage any material risks to the FMI arising from such tiered participation arrangements.
Tiered participation arrangementsCDP acting as a CCPClearing Members are direct participants of CDP and have access to CDP’s clearing services.