Section 3: Operating conditions for regulated markets and market undertakings

Without prejudice to Article 53 of Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories, a market undertaking shall authorise its members to designate a system for the settlement and delivery of transactions in financial instruments concluded on the regulated market that it manages, subject to the following cumulative conditions:…

Without prejudice to Titles III, IV or V of Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories and Article 53 of Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories, the AMF may prohibit…