Third parties with whom arrangements are made
Article 8
1. Where an arrangement referred to in Articles 6 and 7 is made with a third party, the third party shall be one of the following types: (a) in the case of an investment firm: an investment firm which meets the requirements set out in paragraph 2; (b) in the case of a central counterparty: a central counterparty which clears the relevant shares or sovereign debt; (c) in the case of a securities settlement system: a securities settlement system as defined under Directive 98/26/EC of the European Parliament and of the Council ( 5 ) which settles payments in respect of the relevant shares or sovereign debt; (d) in the case of a central bank: a central bank that accepts the relevant shares or sovereign debt as collateral or conducts open market or repo transactions in relation to the relevant shares or sovereign debt; (e) in the case of a national debt management entity: the national debt management entity of the relevant sovereign debt issuer; (f) any other person who is subject to authorisation or registration requirements in accordance with Union law by a member of the European System of Financial Supervision and meets the requirements set out in paragraph 2; (g) a person established in a third country who is authorised or registered, and is subject to supervision by an authority in that third country and who meets the requirements set out in paragraph 2, provided that the third country authority is a party to an appropriate cooperation arrangement concerning exchange of information with the relevant competent authority. 2. For the purposes of points (a), (f) and (g) of paragraph 1, the third party shall meet the following requirements: (a) participate in the management of borrowing or purchasing of relevant shares or sovereign debt; (b) provide evidence of such participation; (c) be able, on request, to provide evidence of its ability to deliver or process the delivery of shares or sovereign debt on the dates it commits to do so to its counterparties including statistical evidence.