Related provisions for CREDS 2.2.64
21 - 22 of 22 items.
For the
purposes of this chapter an operational function is regarded as critical or
important if a defect or failure in its performance would materially impair
the continuing compliance of a firm (other than a common platform firm)7 with the conditions and obligations of its authorisation or its other obligations under
the regulatory system, or its
financial performance, or the soundness or the continuity of its relevant
services and activities.7
MAR 5A.5.1R applies in particular to systems and controls concerning: (1) the resilience of the firm’s trading systems;(2) its capacity to deal with peak order and message volumes;(3) the ability to ensure orderly trading under conditions of severe market stress;(4) the effectiveness of business continuity arrangements to ensure the continuity of the OTF’s services if there is any failure of its trading systems, including the testing of the OTF’s systems and controls;(5) the ability