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 > Designated System Requirements
 

Designated System Requirements

The Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (as amended), ('Settlement Finality Regulations') which implement the EU Settlement Finality Directive in the United Kingdom allow payment and settlement systems to apply for certain protections against the operation of normal insolvency law in respect of transfers through their systems. In order to receive these protections, systems must meet the criteria set out in the Settlement Finality Regulations and be designated by the relevant authority. 

The ongoing obligations on designated systems include notifications of changes to default rules and membership.

Share