An FMI identifies, monitors and manages material risks arising from tiered participation, where indirect participants rely on direct participants. Its rules and agreements allow it to gather basic information on indirect participation; it identifies material dependencies between direct and indirect participants, indirect participants responsible for a significant proportion of transactions and those whose volumes are large relative to the capacity of their direct participant; and it reviews tiering risks regularly and acts to mitigate them.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.