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🔗 Back to Summary. 🇫🇷 French Version: 2018R1229_FR.19. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 18 – Costs of the penalty mechanism ⬅️ | ➡️ Article 20 – CSDs that use a common settlement infrastructure
Article 19 - Penalty mechanism for settlement fails relating to cleared transactions submitted by CCPs for settlement
With respect to settlement fails relating to cleared transactions submitted by CCPs for settlement, CSDs shall apply Articles 16, 17 and 18.
CCPs may allocate to their clearing members any remaining net amount of penalties, credit or debit, paid pursuant to Article 16 and distributed pursuant to Article 17(2).
CCPs shall establish an appropriate mechanism in their rules to that effect.