settlement – Page 3

ECSDA views on the Future of European Post-Trade

Recently, the European Commission has launched a consultation on the Future of European Post-Trade, based on the conclusions of the European Post Trade Forum (EPTF). European CSDs thank the European Commission for the constructive and effective discussions at the EPTF, in which they have been deeply involved. In addition to the insight provided in the report resulting from the forum, Central Securities Depositories (CSDs) note several trends in their immediate ecosystem which are important to post-trade more widely.
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ECSDA responds to ESMA on settlement discipline

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.

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A dense network of CSD links

26 Jan 2015 – A “CSD link” is an arrangement allowing a central securities depository to give its clients access to securities maintained in another CSD, without requiring its clients to be direct participants in the other CSD. Links are thus an important means to facilitate cross-border securities transactions and they contribute to market integration. Based on data collected in the second half of 2014, ECSDA has produced an overview of CSD links which shows that a dense network of links has developed over the past years.

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A very smooth transition to T+2

20 Oct 2014 – On 6 October 2014, 29 European markets* moved from a T+3 to a T+2 settlement cycle, in a “big bang” migration unprecedented in terms of it scale. Thanks to coordinated efforts by market players in all countries, the transition was very smooth and occurred without negative effects on settlement efficiency.

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ECSDA releases 2013 CSD Factbook

2 Sept 2014 – This year’s edition offers an up-to-date overview of the CSD landscape in Europe.

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