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Requirements of clearing institutions


A clearing institution must comply with all sorts of requirements laid down in the Financial Supervision Act (Wet op het financieel toezicht / Wft) when applying for an authorisation and in carrying on its business.

Published: 01 January 2007

These requirements are intended to promote the solidity of the institutions and contribute to the stability of the financial system, and therefore also to protect interested parties from the risk of losses due to inadequate solvency or liquidity. De Nederlandsche Bank (DNB) supervises clearing institutions’ compliance with the statutory requirements.

The Wft and the related secondary legislation impose requirements on clearing institutions with respect to the following matters (this is not an exhaustive list):

  • expertise
  • trustworthiness
  • sound operations
  • the persons who determine day-to-day policy
  • the control structure
  • the organisation of the operations
  • outsourcing
  • the minimum number of supervisory board members
  • minimum regulatory own funds
  • solvency
  • liquidity.

The requirements for clearing institutions depend on the way in which the business of a clearing institution is being carried on in the Netherlands. The requirements made of authorised clearing institutions are set out below. These relate to clearing institutions (i) without a banking licence or (ii) established in a non-designated state.

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