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 communication
  b) communication where international, fair and open standards exists
  c) where the CSD cannot/does not provide evidence that the international standards are less efficient. It is possible to use other standards if they are more efficient
• CSD links should not be qualified as interoperable links only because of the participation of the two CSDs in T2S. T2S links are deemed interoperable only for T2S-related aspects.

Please see the full document