Article 323-55 into force since
- Version into force since
If the depositary does not effect the clearing of financial contracts, it shall sign a written agreement with the institution that provides this service.
This agreement shall specify the obligations of the depositary and the clearing institution, as well as the procedures for transmitting information so as to enable the depositary to register the position of the financial contracts and the cash positions concerned.
This agreement shall stipulate:
The list of financial contracts and markets in which the clearing institution operates, including, where appropriate, over-the-counter transactions;
The list of data about the positions recorded on the accounts that the securitisation vehicle holds with the clearing institution. The latter institution shall send the list to the depositary;
Where appropriate, the transfer of full ownership of the cash and financial instruments to the keeper of the clearing account.
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02