On 28 January 2022, Euronext Securities Oslo (ES-OSL) obtained approval from the Norwegian FSA (NFSA) to operate as a Central Securities Depository in accordance with EUs Central Securities Depositories Regulation, (CSDR).
CSDR settlement discipline will then be introduced from 1 March.
The list of CSDs authorised under the CSDR is provided on the CSD Facts page of the website.
On 3 January, the ECB has published the updated SCoRE Corporate Actions Rulebook.
The full document can be found here.
On 1 December, ECSDA has responded to the CPMI-IOSCO Consultative report on the Application of the PFMIs to Stablecoin Arrangements
ECSDA’s response conveys these key messages to stakeholders:
On 5 October 2021, the European Central Securities Depositories Association (ECSDA) publishes the updated version of the ECSDA CSDR Settlement Fails Penalties Framework.
The Framework is the effort of compliance with the Regulation and harmonisation of settlement penalties mechanisms across CSDs subject to CSDR or regulation alike and constitutes a market practice focusing on the settlement fails related requirements in the Central Securities Depositories (CSDs) Regulation and its Regulatory Technical Standards on Settlement Discipline, aiming at improving “the safety and efficiency of securities settlement”.
The current version of the document provides the changes in comparison with the previous one highlighted in grey and the assumptions pending ESMA and EC feedback in yellow.
ECSDA also makes public operational details of CSDs Settlement Discipline implementation via a questionnaire, regularly updated.
ECSDA CSDR Penalties Framework last updated 05/10/2021
ECSDA response to practical questions of CSD participants on CSDR penalties implementation – last updated 20/09/2021
ECSDA congratulates SIX Digital Exchange having obtained two licenses to operate a CSD as well as a stock exchange for digital assets. The authorisation was granted by the Swiss Financial Market Supervisory Authority – FINMA. These licenses will enable a fully regulated, integrated trading, settlement, and custody infrastructure based on distributed ledger technology for digital securities. SIX Digital Exchange is part of the SIX group, also including SIX SIS, an ECSDA Member.
ECSDA welcomes the Single Central Depository of Securities from Moldova as its new Member.
It is honoured to support the integration of the financial infrastructure of Moldova into the international capital markets ecosystem by sharing the best practices and standards of European Central Securities Depositories.
16/08/2021 – Press release of the National Bank of Moldova
On 1 July 2021, the European Commission issued its Report on the outcome of the consultation on the CSDR Review. This Report summarises the main areas to be made subject to the future EC proposal and speaks about the areas where actions are not needed.
Areas that the EC may include in the CSDR REFIT:
• Settlement discipline: possible amendments to the settlement discipline framework, in particular the mandatory buy-in rules, to make it more proportionate – subject to an impact assessment. The EC recognises that clarifications to settlement penalties regime are long-awaited;
• Supervision;
• Domestic and cross-border provision of services;
• Banking-type ancillary services;
• Third country CSDs;
• Technological innovation.
The EC Proposal of CSDR REFIT is planned for Q4 2021/Q1 2022.
We invite you to consult the full Report here.
Today, 30/06/2021, ECSDA updates its CSD links matrix. Here are the main numbers:
Please see the matrix. (updated on 19/10/2021 for EBE, EF and ENL