ECSDA views and news

ECSDA recruits a Governement & Public Affairs Adviser

About ECSDA The European Central Securities Depositories Association (ECSDA) represents 39 national and international central securities depositories (CSDs) across 35 European countries. Central Securities Depositories are financial market infrastructures of crucial importance for EU and global financial stability. The association

ECSDA Webinar on ISO messages for financial transactions

On 4 July, from 10.00 to 11.30 CET, ECSDA held a webinar on ISO messages for financial transactions. Together with the broad stakeholder community of industry associations in Europe and globally, as well as other Financial Market Infrastructures, CSD participants,

EU Council & Parliament reached agreement on CSDR REFIT

European Council and Parliament reach an agreement on the Central Security Depository Regulation REFIT Procedure! This concludes a long process that aims to reduce compliance costs and regulatory burdens for CSDs, simplifying the passport regime and also enhancing cooperation among

ECSDA Welcomes the Commission Proposal for Simpler Withholding Tax procedures

The European Central Securities Depositories Association (ECSDA) welcomes the European Commission Proposal for a new EU system for the avoidance of double taxation and prevention of tax abuse in the field of withholding tax. The proposal aims to simplify procedures

European CSDs set a timeline for ISO 20022

Today, 26 May 2023, ECSDA publishes its considerations on ISO messages for financial transactions and recommendations on their use. The basis for CSD engagement with local communities and relevant stakeholders and further preparations. The messages for General meetings should be

ECSDA issues its updated CSDR Penalties Framework

Today, 28 April 2023 ECSDA issued the update of the ECSDA CSDR Settlement fails Penalties Framework. The change takes into account the postponement of the collection of payment by CSD participants giving them an additional day to collect the payment

ECSDA & ISSA Survey on ISO20022

On 10 January, the European Central Securities Depository Association (ECSDA) and International Securities Services Association (ISSA) launched a joint survey on ISO 20022. The two Associations ask to respond to a short survey on the present and future adoption of

A new path to support rebuilding the Ukrainian economy is being opened!

Congratulations to Grupa KDPW, the CSD group of Poland, and the National Depository of Ukraine, for establishing a direct link! The link will allow Ukrainian municipal bonds issued by the regional governments to be available to foreign investors through KDPW.

ECSDA issues 2023 penalties calendar

The European Central Securities Depositories Association (ECSDA) issues the 2023 calendar, which can be found below. In the calendar, you will find highlighted the key dates of the penalties life cycle as follows: End of appeal period – 10th PBD

WFC2023 conference in Prague - Registrations are open!

From 24 to 26 May 2023, the World Forum of Central Securities Depositories (WFC), currently led by the European Central Securities Depositories Association (ECSDA), will meet in Prague on the invitation of CSD Prague. The WFC gathers five regional associations

ECSDA Board drew lessons from the experience of the Ukrainian CSD (NDU)

At its last meeting, European Central Securities Depositories Association (ECSDA) Board drew lessons from the experience of the Ukrainian CSD (National Depository of Ukraine) about their operation during the war. Oleksii Yudin, Chairman of the NDU Management Board, shared their

ECSDA Board elects WG Chairs

On 29 November, the ECSDA Board meeting remotely elected the Chair of the Policy and the Settlement Working Groups. The Policy WG will now be chaired by Chiara Rossetti, Senior Manager, Regulation for Euronext Securities Milan. As a member of

ECSDA response to ESMA Consultation on DLT Pilot Regime application guidelines

Today, 9 September 2022, ECSDA answers the ESMA Consultation to apply for permission to operate a DLT market infrastructure. Please read the full response.

ECSDA response to ESMA consultation on the amendment on Article 19

ECSDA welcomes the ESMA initiative of consulting the relevant stakeholders on the change of the dedicated penalties collection and distribution process for cleared transactions, as currently foreseen under Article 19 of Commission Delegated Regulation (EU) 2018/1229 (CDR). ECSDA is generally

ECSDA Response to the OECD Pillar 1 Report

On 19 August, the European Central Securities Depositories Associations (ECSDA) welcomed the Progress Report. In the response to the consultation, we are however highlighting the need to calibrate further the scope of activities contained in the term ‘Investment Institution’. Please

ECSDA re-elects its Chairperson and Executive Committee Members

Gathering in Brussels after two years of the pandemic, the 39 members of the European Central Securities Depositories Association (ECSDA) appointed the Association’s Board of Directors. The Board re-elected Mark Gem, as its Chairperson and elected the Executive Committee for

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

SKDD to join T2S in 2023

On 19 May, the ECB announced that SKDD, the Croatian CSD, will migrate to Target 2 Securities in 2023. See the full release.

New Timeline for February Penalties process

After extensive evaluation and considering wide-ranging discussions of recent days, the CSDs have agreed in principle on a process for February penalties. Below we outline the timeline for the February penalties process and some of the elements that CSDs took

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

Termination of Russian CSD Membership

Today, on 9 March 2022, the ECSDA General Meeting has resolved to terminate the Associate Membership of its Russian Member, National Settlement Depository. The decision is effective immediately.

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