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Article 8 Hold and release mechanism

United Kingdom

Original text. Later amendments are not shown.

CSDs shall set up a hold and release mechanism that consists of both of the following:

  1. (a)

    a hold mechanism that allows pending settlement instructions to be blocked by the instructing participant for the purpose of settlement;

  2. (b)

    a release mechanism that allows pending settlement instructions that have been blocked by the instructing participant to be released for the purpose of settlement.