Tag: CSD regulation

Keler is granted the CSDR licence

Keler is granted the CSDR licence

On 16 December 2020, KELER, the central depository of Hungary, was granted an authorisation under the Central Securities Depositories Regulation (CSDR) and can now offer its clients its services supporting an efficient and secure securities market as a central securities depository operating under unified European regulations.

Please see the full release.

The list of CSDs authorised under the CSDR is provided on the CSD Facts page of the website.

Euroclear UK & Ireland receives the CSDR licence

Euroclear UK & Ireland receives the CSDR licence

On 4 December 2020, Euroclear UK & Ireland  announced it has obtained its Central Securities Depositories Regulation (CSDR) licence from the Bank of England. Euroclear UK & Ireland is the seventh and final CSD entity in the Euroclear Group to receive its licence.

Please see the release.

The list of CSDs authorised under the CSDR is provided on the CSD Facts page of the website.

 

 

EC issues consultation on CSDR review and Settlement Discipline

EC issues consultation on CSDR review and Settlement Discipline

On Tuesday 8 December, the European Commission issued the public consultation on the CSDR review and Settlement Discipline Regulation.

The consultation covers the following topics:

  1. CSDs authorisation & review and evaluation process (Art. 16 & 54 CSDR)
    – Including Question 2 on the insertion of an end date for the grandfathering clause of CSDR
  2. Cross-border provision of services in the EU (Art. 23(3) to 23(7))
  3. Internalised settlement (Art. 9)
  4. CSDR and technological innovation
  5. Authorisation to provide banking ancillary services (Art. 54)
  6. Scope (Art. 2(1)(8))
  7. Settlement Discipline
  8. Framework for third country CSDs (Art. 25)
  9. Other areas to be potentially considered in the CSDR review (one open question)

The consultation runs until 2 February 2021.

Please find the full document here.

Clearstream Banking AG (Germany) receives the licence under CSDR

Clearstream Banking AG (Germany) receives the licence under CSDR

On 21 January 2020, BaFin granted Clearstream Banking AG, as German Central Securities Depository, the licence according to Article 16 Central Securities Depository Regulation (Regulation (EU) No 909/2014) – CSDR. The licence authorises the company to provide core services and non-banking-type ancillary services under the CSDR.

Read the full announcement.

Read the official Clearstream/Deutsche Börse Group Media release.

The list of CSDs authorised under the CSDR is provided on the CSD Facts page of the website.

CSD Prague is granted CSDR licence

CSD Prague is granted CSDR licence

On 20 December, the Central Securities Depository Prague received the licence required by the new European CSD Regulation (CSDR), thus becoming yet another European depository in possession of the pan-European CSD licence.

The Central Securities Depository Prague has received the licence from the Czech National Bank to pursue the activities of a central depository under the harmonized European regulation implemented by the CSDR. The decision becomes legally effective on 21 December. In addition to the CSDR, the activities of the CSD Prague and its participants will also be subject to the provisions of the Act on Capital Market Undertakings, as amended.

Please see the full press release

The list of CSDs authorised under the CSDR is provided on CSD Facts page of the website.

Brexit: ESMA ready to recognise UK CSD

Brexit: ESMA ready to recognise UK CSD

European Commission has published today a communication, allowing ESMA to recognise, on the temporary and conditional basis, the UK CSD in case of Brexit no deal. ESMA expressed its support to this decision.

In more detail:

ECSDA appreciated the publication by the European Commission of the communication for Brexit no-deal contingency plan, as issued on the Commission website.

We also note that ESMA Board of Supervisors expressed support to “continued access to the UK Central Securities Depository (CSD), in order to allow the UK CSD to serve Irish securities and to avoid any negative impact on the Irish securities market.” For more please see ESMA website.