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Recital 5

Recital 5

(5)To take into account the structure of incentives of the shareholders, management and clearing members of CCPs and of the clients of clearing members, a CCP should assess the risks linked to its direct or indirect ownership and capital structure, the financial incentives embedded in the CCP’s senior management remuneration, as well as the degree of involvement of the clearing members and clients in the CCP’s risk governance.

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