MAR 12.5 Applicable conditions for a post-trade risk reduction service provider to be exempt from the relevant obligations and transparency obligations

A post-trade risk reduction service provider must perform a PTRRS in accordance with an eligible agreement.

1. (1)

   A post-trade risk reduction service provider must make public in relation to its service of portfolio compression:

   1. (a)

      the total number of transactions and aggregate volume submitted for compression; and

   2. (b)

      the total number of transactions and aggregate volume of derivatives terminated or modified.

2. (2)

   A post-trade risk reduction service provider must make public in relation to its PTRRS, other than portfolio compression:

   1. (a)

      the total number of new derivatives transactions; and

   2. (b)

      the value of these transactions expressed in terms of aggregate volume.

3. (3)

   A post-trade risk reduction service provider must make public the information in (1) and (2) no later than the close of the following business day after a risk reduction has been completed.

A post-trade risk reduction service provider must maintain complete and accurate records of all the PTRRS which they organise or participate in and make the records available to the FCA promptly upon request.