Penalties and Administrative costs

Penalties

In accordance with the amendment of Article 19 of the Delegated Regulation (EU) 2018/1229 on Settlement Discipline Regime (‘SDR’),  as regards the penalty mechanism for settlement fails relating to cleared transactions submitted by CCPs for settlement, with effect from September 2, 2024, the Central Securities Depository (‘CSD’) will be responsible for calculating and managing the collection and distribution of penalties to be applied.

BME CLEARING will not make any action or management in this regard.

Administrative Costs

Administrative costs for the failing seller

A penalty of €50 per day is applied to the failed seller for each failed instruction once their ISD has arrived.

Administrative costs for buy – in and / or cash settlement

It applies to the failed seller a penalty of 10 bps plus a fixed administrative cost of 1,000 euros for each Failed Settlement Instruction to which Buy-in / Cash Settlement process is executed.