19 Feb 2015 – In its response to the ESMA consultation on “Level 2” legislation on central securities depositories, ECSDA identifies several issues that need to be solved prior to the finalisation of the new rules.
19 Feb 2015 – What will be the market impact of the CSDR rules on settlement discipline? The draft measures issued by ESMA for consultation in December 2014 in the context of the CSD Regulation (CSDR) would create a settlement discipline framework which has the potential to substantially affect the way securities transactions are cleared and settled today.
26 Jan 2015 – A “CSD link” is an arrangement allowing a central securities depository to give its clients access to securities maintained in another CSD, without requiring its clients to be direct participants in the other CSD. Links are thus an important means to facilitate cross-border securities transactions and they contribute to market integration. Based on data collected in the second half of 2014, ECSDA has produced an overview of CSD links which shows that a dense network of links has developed over the past years.
20 Oct 2014 – On 6 October 2014, 29 European markets* moved from a T+3 to a T+2 settlement cycle, in a “big bang” migration unprecedented in terms of it scale. Thanks to coordinated efforts by market players in all countries, the transition was very smooth and occurred without negative effects on settlement efficiency.
2 Sept 2014 – This year’s edition offers an up-to-date overview of the CSD landscape in Europe.
28 Aug 2014 – Following its publication in the Official Journal on Thursday 28 August 2014, the CSD Regulation (“CSDR”) will officially enter into force on 17 September 2014.
Many provisions, however, still require the adoption of implementing and delegated acts, most of which are currently under preparation by the European Securities Market Authority. …
22 May 2014 – ECSDA calls for a truly harmonised process for authorising and supervising central securities depositories in the European Union and warns against excessive recordkeeping requirements that seek to turn CSDs into ‘transaction repositories’. …
22 May 2014 – European CSDs make concrete proposals for building a workable European settlement discipline framework. …