• General Criteria Applicable to a Clearing House and Central Depository

    • CSD-1.2.13

      The applicant must also demonstrate to the satisfaction of the CBB that it has:

      (a) The financial resources, and the management and human resources with appropriate experience, necessary for the operation of a clearing house or central depository;
      (b) Made arrangements for the proper supervision of all transactions effected through the clearing house or central depository, so as to ensure compliance with the clearing house or central depository rules;
      (c) Taken sufficient steps to maintain security and back-up procedures to ensure the integrity of the records of transactions effected through the clearing house or central depository;
      (d) IT infrastructure and necessary systems to perform its function and comply with its obligations, including business continuity and disaster recovery systems;
      (e) Procedures in place for compliance with obligations in respect of Anti-Money Laundering and the Combating of Financial Crime;
      (f) Rules and procedures in place for the disciplining of its members and depository participants;
      (g) The ability to avoid and manage any conflicts of interest;
      (h) The ability to maintain confidentiality as required in this Module.