CSD-6.3.3

Where a licensed clearing house or licensed central depository fails to comply with any direction of the CBB under Paragraph CSD-6.3.1 within such time as is specified by the CBB, the CBB may:

(a) Set margin levels for transactions cleared or settled, or to be cleared or settled through the clearing facility to cater for the emergency;
(b) Set limits that may apply to market positions acquired in good faith prior to the date of the notice issued by the CBB; or
(c) Take such other action as the CBB considers necessary to maintain or restore safe and efficient operations of the clearing facilities operated by the licensed clearing house and the services offered by the licensed central depository.
Amended: April 2016