ECSDA views and news
More CSDs get authorised under CSDR
We are truly happy to see that the list of European Central Securities Depositories Association (ECSDA) members that have been authorised under the new pan-European Union regulation is increasing. The CSDs that have received the authorisation to function under the CSD regulation are: 1.
Read more.ECSDA response to the EC on the use of digital tools and processes in company law
The recent proposal by the Commission for a Directive regarding the digital tools and processes in company law gives rise to the importance of taking into account the already existing identification for financial institutions. European CSDs call upon policymakers to
Read more.ECSDA consults on the draft Settlement Fail Penalties Framework
9 July 2018 Today, ECSDA makes available the draft version of its future ECSDA Settlement Fail Penalties Framework (the Framework). The document aims at creating a harmonised and coherent set of rules and considerations for creation and operation of
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ECSDA views on migration to ISO20022
European CSDs support a coherent use of the same standard globally. At this stage, we see that earlier standards are more in use for securities communication across the globe. However, we note that several pan-European infrastructure projects and regulatory initiatives
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European CSDs welcome a clear ECB guidance on FMI Cyber resilience
On 10 April 2018, the European Central Bank (ECB) launched a public consultation on the ECB’s draft report with proposed Cyber Resilience Oversight Expectations (CROE) for Financial Market Infrastructures (FMIs). The CROE includes the ECB’s expectations in terms of cyber
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ESMA updates the Questions and Answers on CSDR
ESMA has updated the CSDR Q&A on investment policy clarifying what liquidation of collateral on the “same business day” means in the context of the CSD prudential requirements. See the complete updated ESMA CSDR Q&A following this link.
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The European Commission issues the RTS on Settlement Discipline
The European Commission has just issued the Standards (RTS) on Settlement Discipline. The Legislators (Council and Parliament) have one to three months of a (non-) objection period, i.e. to express their objection to the draft. The period can be
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ECSDA response to the consultation on Shareholder Rights Standards
European Central Securities Depositories Association (ECSDA) represents 38 national and international Central Securities Depositories (CSDs) across 35 European countries. The association aims at promoting a constructive dialogue between the CSD community, European public authorities and other stakeholders looking to contribute
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ESMA issues updated Q&A on the CSD Regulation
In brief, the new/modified Q&A says: Links shall be assessed in compliance with the CSDR by the time of the CSD application for authorisation under CSDR Communication standards requirement to use international standards is limited to : a) the machine-to-machine
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