Tag: CSDR

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.

EU Settlement Discipline Standards published

EU Settlement Discipline Standards published

On 13 September 2018, the Final Regulatory Technical Standards (RTS) on Settlement Discipline have been published in the Official Journal of the European Union. The standards are mandated by the CSD Regulation and constitute part of a binding package providing the regulatory framework for all Central Securities Depositories of the European Economic Area.

The standards have been released by the European Commission on 25 May 2018 and published following the absence of any objection from the Council and the Parliament.

The date of publication in the Official Journal is essential for the calculation of the date of applicability of the standards. The compliance with the standards is required after a phase-in period of 24 months.

Please see the link to the full Regulatory Technical Standards as published in the Journal.

More CSDs get authorised under CSDR

More CSDs get authorised under CSDR

Updated 19 September 2018

We are truly happy to see that the list of European Central Securities Depositories Association (ECSDA) members that have been authorised under the new pan-European Union regulation is increasing. The CSDs that have received the authorisation to function under the CSD regulation are:

1. Austian CSD – OeKB CSD.  Press release.

2. Danish CSD – VP Securities. Press release.

3. Latvian CSD covering Baltic states – Nasdaq CSD. Press release.

4. Portugese CSD – Interbolsa. Press release.

5. Bulgarian CSD – CDAD. Press release