Financial Markets Act, 2012 (Act No. 19 of 2012)RegulationsFinancial Markets Act RegulationsChapter VI : Central Counterparties42. Record keeping42.3 Position records |
| (1) | A central counterparty must— |
| (a) | maintain records of positions held by each clearing member; |
| (b) | ensure that separate records are held for each account kept; |
| (c) | ensure that its records include all information necessary to conduct a comprehensive and accurate reconstruction of the transactions that established the position and that each record is identifiable and searchable at least by all fields concerning the central counterparty, interoperable central counterparty, clearing member, client, if known to the central counterparty, and financial instrument. |
| (2) | At the end of each business day, a central counterparty must make a record in relation to each position the following details, to the extent they are linked to the position in question— |
| (a) | the identification of the clearing member and the client, if known to the central counterparty, and of any interoperable central counterparty maintaining such position, where applicable; |
| (b) | the sign-off of the position; |
| (c) | the daily calculation of the value of the position with records of the prices at which the contracts are valued, and of any other relevant information. |
| (3) | A central counterparty must make, and keep updated, a record of the amounts of margins, default fund contributions and other financial resources called by the central counterparty and the corresponding amount actually posted by the clearing member at the end of day and changes to that amount that may occur intraday, with respect to each single clearing member and client account if known to the central counterparty. |