The efficiency of the processes: the NSSMC approves the Regulation on Clearing Activity

At its regular meeting, the NSSMC (National Securities and Stock Market Commission) approved the Regulation on Clearing Activity.

The document establishes the procedure for the clearing activity of the two categories of professional participants, who conduct the clearing activity to determine the obligations and the central counterparty.

The key point in the Regulation is about:

– the requirements to the procedure for registration of the Clearing Members, clients of the Clearing Members by a person conducting the clearing activity, organization of the accounting system by a person conducting the clearing activity;

– the requirements to the procedure for clearing, organization of the establishment of the risk management system during conducting the clearing activity;

– the peculiarities of the clearing activity concerning the securities;

– the procedure for termination of the clearing activity by a person conducting the clearing activity.

“The NSSMC together with market representatives has developed clear rules and regulations for clearing activity. Thanks to the joint work of the Regulator and the market community, we received a high-quality document that takes into account all the requirements of the current legislation”, said Iraklii Baramiia, the Commissioner.

It should be noted that the NSSMC has finaled the regulatory act, taking into account the comments and suggestions provided by participants of the capital markets and organized commodity markets. It can be found on the website of the Regulator at the link.

At the same time, the NSSMC decided to declare the Resolution of the NSSMC №429 dated 23.03.2013 invalid.

These documents are sent for the state registration to the Ministry of Justice of Ukraine.