Skip to main content
  • This website sets cookies on your device. To find out more about how we use cookies please refer to our Privacy and Cookie Policy. By continuing to use the site, we’ll assume that you are content for us to set these on your device.
  • Close
Home > Financial Stability > Recognised Clearing House (RCH) and Central Counterparty (CCP) applications
 

Recognised Clearing House (RCH) and Central Counterparty (CCP) applications

Recognised Clearing Houses which are not CCPs
 
There is no standard application form for application for recognition as an RCH which is not a CCP. Section 288 of Financial Services and Markets Act 2000 (FSMA), (application by a clearing house) specifies certain details that must accompany the application, together with any additional information that the Bank may require.

A prospective applicant may wish to contact the Bank at an early stage for advice on the preparation, scheduling and practical aspects of an application to become a recognised clearing house.
 
EMIR Central Counterparties
 
The application process for a UK CCP seeking authorisation under EMIR is governed by EMIR and the applicant must satisfy the requirements under EMIR and any additional domestic requirements. A successful applicant will be granted a recognition order under FSMA which also constitutes the EMIR authorisation and will specify the services and activities the CCP can provide or perform including the classes of financial instruments covered by the authorisation.
 
Overseas CCPs seeking an Order under 170B of Companies Act 1989

There is no standard application form for application for a recognition order. An application should be made in accordance with any direction the Bank may make under section 170 of the Act.
 
A prospective applicant may wish to contact the Bank at an early stage for advice on the preparation, scheduling and practical aspects of an application.
 
Recognised Overseas Clearing Houses (ROCH)

From 1 April 2013 entities can no longer apply for ROCH status if they are a central counterparty, other applicants can continue to apply under sections 288 and 209 of FSMA and may wish to contact the Bank at an early stage for advice on the preparation, scheduling and practical aspects of an application.
 
The Bank can be contacted as follows:
 
or by post:
 
FMI Information
Bank of England
FMI Supervision Directorate, MG-SE-5
20 Moorgate
London, EC2R
6DA
Share