FAQs – Digital Operational Resilience Act (DORA) – CFCS
In this section, you will find answers to the following questions:
- What is an ICT service under DORA and which services provided by Clearstream Fund Centre AG are of relevance?
- Are distribution support services contracted via Clearstream Fund Centre AG considered ICT?
- Has Clearstream completed an impact analysis of DORA?
- Will Clearstream entities conclude dedicated DORA agreements with individual clients / users of ICT services provided by Clearstream Fund Centre AG?
1. What is an ICT service under DORA and which services provided by Clearstream Fund Centre AG are of relevance?
Article 3 (21) DORA defines an ICT service as any “digital and data services provided through ICT systems to one or more internal or external users on an ongoing basis […]”. Consequently, an ICT service provided by an ICT third-party service provider on an ongoing basis towards a financial entity is subject to the requirements outlined in Article 30 DORA.
An indication what could constitute an ICT service can be drawn from the list of types of ICT services in Annex III to the Draft Implementing Technical Standards on the standard templates for the purposes of the register of information in relation to all contractual arrangements on the use of ICT services provided by ICT third-party service providers. Please note that this list might not be exhaustive as it primarily refers to the question which information needs to be put in the register pursuant to Article 28 (3) DORA.
Clearstream Fund Centre AG (CFCS) is an unregulated Swiss service provider that acts as platform operator for distribution support services. In the event these include services that qualify as ICT services, the DORA-specific adjustments will be implemented through an additional addendum to the existing contracts.
2. Are distribution support services contracted via Clearstream Fund Centre AG considered ICT?
CFCS is reviewing its range of distribution support services to assess whether they qualify as ICT services. If CFCS determines that some services are considered ICT services under DORA, clients will be provided with a standard contract covering the distribution support service as a DORA-compliant solution.
3. Has Clearstream completed an impact analysis of DORA?
Yes, an impact assessment for Clearstream legal entities with respect to our obligations under DORA has been completed. In addition, we are assessing any impacts that may derive from our potential role as an ICT third-party service provider.
4. Will Clearstream entities conclude dedicated DORA agreements with individual clients / users of ICT services provided by Clearstream Fund Centre AG?
We are unable to accept individual contractual amendments. In order to treat all clients equally, it is intended to provide a standard contract as a DORA-compliant solution, if required.