• MIR 4.4 MIR 4.4 Admission of Financial Instruments to Clearing – investment criteria

    • MIR 4.4.1

      A Recognised Clearing House must have clear and objective criteria ("Investment Criteria") included in its Business Rules according to which Financial Instruments can be cleared and settled on its facilities. The Investment Criteria must include the requirements in Rule 4.4.2(a) and (b) below as relevant.

    • MIR 4.4.2

      A Recognised Clearing House must ensure that Financial Instruments are cleared on its facilities only if:
      (a) in the case of Securities, such Securities are either:
      (i) admitted to the Official List of Securities; or
      (ii) admitted to trading on a Recognised Investment Exchange, Remote Investment Exchange, or a market in a jurisdiction acceptable to the Regulator; and
      (b) in the case of Derivative contracts, are traded on a Recognised Investment Exchange, Remote Investment Exchange, or a market in a jurisdiction acceptable to the Regulator, having regard to:
      (i) the degree of standardisation of the contractual terms and operational processes of the Derivative contract;
      (ii) the volume and liquidity of the Derivative contract; and
      (iii) the availability of fair, reliable and generally accepted pricing information in the Derivative contract.