ECSDA views and news

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

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

ECB publishes FMI cyber resilience expectations

On 3 december 2018, The ECB published the Cyber Resilience Oversight Expectations (CROE) for Financial Market Infrastructures (FMIs) following the public consultation launched from April to June 2018. The CROE aims at providing FMIs with detailed steps on how to

ECSDA welcomes ID2S as a new member

ECSDA is pleased to welcome ID2S as a new member having joined the association. On Tuesday 27 November, the ECSDA Extraordinary General Meeting has approved ID2S as a new member. ID2S Chief Executive Officer, Andrea Tranquillini, becomes ECSDA new Board

ESMA updates the Questions and Answers on CSDR

On 12 November 2018, ESMA has updated his Questions and Answers (Q&As) with regard to the implementation of the Central Securities Depository Regulation (CSDR). The new entries cover the CSD passporting and Settlement Discipline cash penalties. See the complete updated

Settlement in DKK is now possible on T2S

On 27 October, Danmarks Nationalbank has connected its real-time gross settlement and collateral management system to the ECB T2S platform. The same week-end, VP Securities, the Danish Central Securities Depository and ECSDA member, has facilitated the first settlement in Danish Krone.

ESMA updates the Questions and Answers on CSDR

On 27 September 2018, ESMA has updated his Q&As regarding the implementation of CSDR. It clarifies practical issues on the implementation of the new CSDR regime, giving more information about settlement discipline, book entry form requirements and organisational requirements.

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

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

ECSDA response to the EC on the use of digital tools and processes in company law

The recent proposal by the Commission for a Directive regarding the digital tools and processes in company law gives rise to the importance of taking into account the already existing identification for financial institutions. European CSDs call upon policymakers to

ECSDA consults on the draft Settlement Fail Penalties Framework

9 July 2018 Today, ECSDA makes available the draft version of its future ECSDA Settlement Fail Penalties Framework (the Framework). The document aims at creating a harmonised and coherent set of rules and considerations for creation and operation of

ECSDA views on migration to ISO20022

European CSDs support a coherent use of the same standard globally. At this stage, we see that earlier standards are more in use for securities communication across the globe. However, we note that several pan-European infrastructure projects and regulatory initiatives

European CSDs welcome a clear ECB guidance on FMI Cyber resilience

On 10 April 2018, the European Central Bank (ECB) launched a public consultation on the ECB’s draft report with proposed Cyber Resilience Oversight Expectations (CROE) for Financial Market Infrastructures (FMIs). The CROE includes the ECB’s expectations in terms of cyber

ESMA updates the Questions and Answers on CSDR

ESMA has updated the CSDR Q&A on investment policy clarifying what liquidation of collateral on the “same business day” means in the context of the CSD prudential requirements. See the complete updated ESMA CSDR Q&A following this link.

The European Commission issues the RTS on Settlement Discipline

The European Commission has just issued the Standards (RTS) on Settlement Discipline. The Legislators (Council and Parliament) have one to three months of a (non-) objection period, i.e. to express their objection to the draft. The period can be

ECSDA response to the consultation on Shareholder Rights Standards

European Central Securities Depositories Association (ECSDA) represents 38 national and international Central Securities Depositories (CSDs) across 35 European countries. The association aims at promoting a constructive dialogue between the CSD community, European public authorities and other stakeholders looking to contribute

ECB publishes TIBER-EU Framework

On 2 May, the European Central Bank has published the Threat Intelligence-based Ethical Red Teaming (TIBER-EU) Framework. It aims at providing a view on how to ensure controlled tests against cyber-attacks for financial institutions of all sorts. The ECB says

ESMA issues updated Q&A on the CSD Regulation

In brief, the new/modified Q&A says: Links shall be assessed in compliance with the CSDR by the time of the CSD application for authorisation under CSDR Communication standards requirement to use international standards is limited to : a) the machine-to-machine

ECSDA is entering in the new 2018 with its new logo

ECSDA is meeting the new 2018 with its new logo. The logo speaks for itself about the nature of Central Securities Depositories, the resilient and stable financial market infrastructures. CSDs shape the future of financial markets by providing digital and

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,

CSD Factbook is now available

The 2017 edition of the Factbook offers an up-to-date overview of the CSD landscape in Europe. The Factbook describes the trends within the CSD industry and provides an overview of the evolution of individual ECSDA member-CSD services.

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