MIR 3.8 MIR 3.8 Settlement and Clearing Services
The Recognised Investment Exchange, when engaging a Clearing Service, must ensure that satisfactory arrangements are made for securing the timely discharge (whether by performance, compromise or otherwise), Clearing and settlement of the rights and liabilities of the parties to transactions effected on the Recognised Investment Exchange (being rights and liabilities in relation to those transactions).
The engagement of a Recognised Clearing House or Remote Clearing House will be deemed sufficient to satisfy Rule 3.8.1.
MIR 3.8.4The rules of the Recognised Investment Exchange must permit a Member to use whatever settlement facility they choose for a transaction. This Rule only applies where:(a) such links and arrangements exist between the chosen settlement facility and any other settlement facility as are necessary to ensure the efficient and economic settlement of the transaction; and(b) the Recognised Investment Exchange is satisfied that the smooth and orderly functioning of the ADGM financial markets will be maintained.
MIR 3.8.3 MIR 3.8.3
If a Recognised Investment Exchange engages a party that is not a Recognised Clearing House or a Non‐Abu Dhabi Global Market Clearing House, the Recognised Investment Exchange must confirm to the Regulator, in writing, the satisfactory arrangements made under Rule 3.8.1.