Part 2 Amendments to the European Market Infrastructure regulation
Financial Services and Markets Act 2023 (2023 c 29) | Legislation

Part 2 Amendments to the European Market Infrastructure regulation

28

Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories is amended in accordance with this Part of this Schedule.

29

After Article 6a insert—

“Article 6b
Risk reduction services

1

The Bank of England may by rules provide for the clearing obligation referred to in Article 4(1) in respect of a class or classes of OTC derivatives not to apply—

(a)     in relation to activities or transactions of a specified description carried out as part of a risk reduction service, or

(b)     to persons of a specified description in the provision of such services.

2

The

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