(1) Investment firms and market operators operating an MTF in the State may enter into arrangements with a central counterparty or clearing house and a settlement system of another Member State with a view to providing for the clearing or settlement of some or all trades concluded by market participants under the systems of the MTF.
(2) The Bank may prohibit the use of central counterparty, clearing houses or settlement systems in another Member State by investment firms and market operators operating an MTF in the State where it is demonstrably necessary in order to maintain the orderly functioning of that MTF, taking into account the conditions for settlement systems established under these Regulations.