MIR 4.3.3

In determining whether there are satisfactory arrangements for securing the timely discharge of the rights and liabilities of the parties to transactions, the Regulator may have regard to the Recognised Clearing House's:
(a) rules and practices relating to Clearing and settlement including its arrangements with another Person for the provision of Clearing and settlement services;
(b) arrangements for matching trades and ensuring that the parties are in agreement about trade details;
(c) where relevant, arrangements for making deliveries and payments, in all relevant jurisdictions;
(d) procedures to detect and deal with the failure of a Member to settle in accordance with its rules;
(e) arrangements for taking action to settle a trade if a Member does not settle in accordance with its rules;
(f) arrangements for monitoring its Members' settlement performance; and
(g) (where appropriate) Default Rules and default procedures.