Protection of participants' and their clients' securities
Article 26
An application for authorisation shall include the following information concerning the measures put in place to protect the securities of the applicant CSD's participants and those of their clients in accordance with Article 38 of Regulation (EU) No 909/2014: (a) the rules and procedures to reduce and manage the risks associated with the safekeeping of securities; (b) a detailed description of the different levels of segregation offered by the applicant CSD, a description of the costs associated with each level, the commercial terms on which they are offered, their main legal implications and the applicable insolvency law; (c) the rules and procedures for obtaining the consents referred to in Article 38(7) of Regulation (EU) No 909/2014.