The Central Bank proposes introducing a risk based capital requirement to apply to Market Operators in Ireland. It is intended that the proposed Capital Requirement Framework would be imposed on Market Operators either as a condition on authorisation in accordance with the MiFID Regulations or in the form of Central Bank regulations under the Central Bank (Supervision and Enforcement) Act 2013. The proposed Capital Requirement Framework sets the Basic Capital Requirement for Market Operators as the higher of six months operating expenses and the exposure assessed through a Market Operator Risk and Capital Adequacy Assessment Process (‘MORCAAP’).

The Central Bank issued a Consultation Paper on the proposed Capital Requirement Framework on 12 February 2016.