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Leapfrog payment
European Union Electricity Market Glossary


Leapfrog payment means the direct return of the liquidation proceeds to the indirect client in the process of porting of the assets and positions of the indirect client on occasion of insolvency of the clearing member or a direct client (see Consultation Paper Indirect clearing arrangements under EMIR and MiFIR 5 November 2015 (ESMA/2015/1628), p. 11).


This leapfrog payment can conflict in many cases with the relevant insolvency regimes, hence the EMIR and MiFIR mandates require having provisions in the regulatory technical standards on indirect clearing related to these protections for the indirect client, in line with Article 48 of EMIR.


See more on provisions governing the client segregation and portability...


Last Updated on Sunday, 31 January 2016 23:34


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