Tag: CSD regulation

ECSDA responds to the EU Consultation on CSDR REFIT

ECSDA responds to the EU Consultation on CSDR REFIT

ECSDA welcomes the review of the CSDR.
We thank the European Commission for the opportunity to provide our contribution. We look forward to working alongside stakeholders in pursuit of a more competitive and resilient Capital Markets Union!

The full document can be found here.

EU Commission Publishes Proposal to Review the CSDR

EU Commission Publishes Proposal to Review the CSDR

The European Commission has published the proposal for the review of the Central Securities Depositories Regulation – a key action in the 2020 CMU Action Plan.

We look forward to responding to the call for feedback by delving into the detail of the proposal. Together with the ECSDA Members and key stakeholders, we are keen to contribute to ensuring a competitive and resilient European financial market!”

Please see the proposal.

SKDD receives the CSDR licence

SKDD receives the CSDR licence

Today, 10 February, The Central Depository and Clearing Company, Inc. (SKDD) informs capital market participants and the interested public that on 10 February 2022, the Croatian Financial Services Supervisory Agency (HANFA) announced on its website that HANFA had issued a Decision granting approval to SKDD as a central securities depository under Regulation (EU) no. 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving the settlement of securities in the European Union and on central securities depositories and amending Directives 98/26 / EC and 2014/65 / EU and Regulation (EU) no. 236/2012 (CSDR).

SKDD will start providing services in accordance with the CSDR on 14 February 2022, when the amended SKDD acts come into force: Rules and Instructions as well as Fee Schedule. The amended acts are also complied with the provisions of the Regulatory Technical Standards (RTS) on the settlement discipline regime, except for the rules on buy-in, the application of which has been postponed.

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

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.

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.