ECSDA views and news

ECSDA views and news

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
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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
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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
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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.
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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
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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
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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
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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
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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
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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,
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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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The ECSDA Secretariat is recruiting
The ECSDA Secretariat is recruiting a Senior Policy Adviser and 2 Interns. For more information click here
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ECSDA releases the 2016 CSD online database
We are pleased to announce that the updated figures and information on the activity of ECSDA members is now available. Please find it under CSD facts page.  
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ECSDA responds to the European Commission’s consultation on FinTech
In its response, ECSDA expresses its support of technological innovation, including in the areas directly linked to CSD activities. ECSDA notes that due to the competing priorities of reducing costs, responding to margin pressure and the needs of a single
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ECSDA appoints Anna Kulik as new Secretary General
The European Central Securities Depositories Association (ECSDA) has appointed Anna Kulik as its Secretary General. Ms Kulik takes over the role with immediate effect, following Soraya Belghazi, and will be the new face of European CSDs.
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2016 Annual Report now available
20 Feb 2017 – The 2016 annual report of the association is available exclusively online and describes the key events that have marked the life of ECSDA in 2016. You can also obtain an overview of ECSDA members and governing
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Continued access to CSDs for firms in resolution
17 Feb 2017 – When a CSD participant enters into resolution, the challenge for the CSD and for financial regulators is to strike the right balance between, on the one hand, the need to preserve the safety and soundness of
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CSDs and securities financing
30 Nov 2016 – On 30 September, the European Securities Markets Authority (ESMA) issued draft technical standards under EU Regulation 2015/2365 on the securities financing transactions (SFTR) for public consultation. Commenting on the standards, ECSDA made two recommendations from a CSD
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CSDs, custody and asset segregation
30 Sept 2016 – Since late 2015, there has been some uncertainty as regards the treatment of CSDs under asset management legislation (AIFMD and UCITS) due to guidance issued by ESMA alluding to “custody” services of CSDs. The call for
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Distributed ledgers and securities markets
2 Sept 2016 – In its response to the ESMA Discussion Paper on distributed ledger technology (DLT) in securities markets, ECSDA stresses the importance of sound governance and oversight.
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2015 CSD Factbook now available
29 Aug 2016 – This year’s edition of the Factbook offers an up-to-date overview of the CSD landscape in Europe.
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