6 Aug 2015 – The CSD Regulation and its accompanying technical standards should not require CSDs to play an active role in the processing of buy-in instructions. In line with current practice, buy-ins should be executed at trading level whenever possible, rather than at CSD participant level.
3 July 2015 – The “Level 2” standards under the CSD Regulation will be submitted to the European Commission in September 2015, instead of June. ECSDA believes that this delay can be beneficial and contribute to better regulation if it allows for a thorough legal and market review of the draft standards and impact assessments.
13 May 2015 – The CMU initiative of the European Commission is likely to affect all financial markets players, infrastructures included. ECSDA’s response to the Commission Green Paper includes four recommendations from a CSD perspective.
27 Apr 2015 – Minimum capital requirements should reflect CSDs’ specific activities and their low risk profile compared to banks and CCPs. In its response to the European Banking Authority consultation, ECSDA makes several recommendations on how to achieve solid and truly proportionate capital requirements for central securities depositories.
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.
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’. …