(7)Under Part III of the SFO, the SFC has the power to authorise CCP as a Recognised Clearing House (‘RCH’). When considering the authorisation of a CCP as an RCH, the SFC must take the ‘interest of the investing public’ and the ‘proper regulation of markets’ into account. The SFC may also specify ‘such conditions as it considers appropriate’ before authorising a specific CCP as an RCH and may change those conditions by notice if ‘satisfied that it is appropriate’. In determining what is appropriate, the SFC is required to refer to its statutory mandates of maintaining financial stability and reducing systemic risk.