S.L. 370.35 Art. 5Access to European CCP, clearing and settlement facilities.

(1) Maltese investment firms, market operators operating an MTF and regulated markets shall not be prevented from entering into appropriate arrangements with a CCP or clearing house and a settlement system of another Member State or an EEA State with a view to providing for the clearing and, or settlement of some or all trades concluded by the members or participants under their systems.

(2) The competent authority may not oppose the use of CCP, clearing houses and, or settlement systems in another Member State or EEA State except where demonstrably necessary in order to maintain the orderly functioning of that regulated market or MTF and taking into account the conditions for settlement systems established in regulation 3(4).

(3) The competent authority shall take into account the oversight and, or supervision of the clearing and settlement system already exercised by the Central Bank of Malta and other central banks as overseers of clearing and settlement systems in order to avoid undue duplication of control