Recital 24 Additional requirements for financial market infrastructure participants

It is necessary to lay down requirements for operational risk means the potential for loss or disruption caused by an incident and is to be expressed as a combination of the magnitude of such loss or disruption and the likelihood of occurrence of the incident;, and more particularly requirements for ICT project and change management and ICT business continuity management building on those that apply already to central counterparties means a central counterparty as defined in Article 2, point (1), of Regulation (EU) No 648/2012;, central securities depositories means a central securities depository as defined in Article 2(1), point (1), of Regulation (EU) No 909/2014; and trading venues means a trading venue as defined in Article 4(1), point (24), of Directive 2014/65/EU; under, respectively, Regulations (EU) No 648/2012(³)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 (OJ L 201, 27.7.2012, p. 1, ELI: http://data.europa.eu/eli/reg/2012/648/oj)., (EU) No 600/2014(⁴)Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 (OJ L 173, 12.6.2014, p. 84, ELI: http://data.europa.eu/eli/reg/2014/600/oj). and (EU) No 909/2014(⁵)Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 (OJ L 257, 28.8.2014, p. 1, ELI: http://data.europa.eu/eli/reg/2014/909/oj). of the European Parliament and of the Council.