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Home > Financial Stability > Central counterparties and trading venues: applications under Article 35 or 36 of MiFIR
 

Central counterparties and trading venues: applications under Article 35 or 36 of MiFIR

​From January 2018, a central counterparty (CCP) supervised by the Bank of England may receive a formal request for access to clearing from a trading venue. A CCP may also submit a formal request for access to a trading venue. These requests will be submitted to the relevant CCP or trading venue, to the trading venue’s competent authority and to the Bank of England as the CCP’s competent authority.

The below is guidance to potential applicants.

Process

A CCP or trading venue must submit their formal request to us in writing by emailing fmiinformation@bankofengland.co.uk. Applicants are advised to contact us at the same email address to discuss any arrangements required to transmit confidential information before such information is transmitted to us.

Information for applicants

CCPs supervised by the Bank that request access to a trading venue and trading venues that request access to a CCP supervised by the Bank should include information in their request that will enable us and the other recipients of the application to assess the application as outlined in MiFIR.

We will expect sufficient and detailed evidence to be provided in the formal request.  We may require applicants to provide further detail or clarification, and will discuss this with the applicant if required.

We have two months to conduct our review of the request and thus will need timely responses to any information requests necessary for us to conduct our assessment.

According to MiFIR, access shall be granted by a competent authority only where such access meets the conditions in Article 35(4) or Article 36(4) of MiFIR (as applicable).

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