Article 48 › 4 EMIR — REGULATION (EU) No 648/2012 OF THE EUROPEAN PARLIAMENT AND…

Article 48 › 4

EMIR

REGULATION (EU) No 648/2012 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (Text with EEA relevance) · European Union

A CCP shall verify that its default procedures are enforceable. It shall take all reasonable steps to ensure that it has the legal powers to liquidate the proprietary positions of the defaulting clearing member and to transfer or liquidate the clients’ positions of the defaulting clearing member.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04