Financial Markets Act (Cap. 345), article 10A

10A. Regulated markets shall offer all their members or participants the right to designa te the systems for the clearin g and settlement of transactions in financial instruments undertaken on that regulated market subject to: (a) such links and arrangements between the designated clearing and settlement system and any other system or facility as are necessary to ensure the efficient and economic settlement of the transaction in question; and (b) agreement by the competent authority responsible for the supervision of the regulated market that technical conditions for the clearing and settlement of transactions concluded on the regulated market through a clearing and settl ement system other than that designated by the regulated market are such as to allow smooth and orderly functioning of financial markets. Competent authority to draw up list when it is the home Member State of a regulated market. Added by: XX. 2013.28.