system operator
as defined in Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on…, Article 2(1), point (32)
(32)‘system operator’ means the undertaking or undertakings, legally responsible for the operation of a system, which may also act as a settlement agent, central counterparty, central securities depository or clearing house;
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Also defined in
- Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and… 01998L0026-20240408, Article 2, point (p)
the entity or entities legally responsible for the operation of a system. A system operator may also act as a settlement agent, central counterparty or clearing house.