ECSDA views and news

ECSDA views and news

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
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
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. European CSDs support the efforts of securities regulators to pro-actively monitor
29 Aug 2016 - This year’s edition of the Factbook offers an up-to-date overview of the CSD landscape in Europe. A steady increase in the value of securities held on CSD accounts since 2011 From 2014 to 2015, the total
29 Jul 2016 - How interconnected are CSDs? The latest ECSDA overview of CSD links reveals some interesting facts and figures on existing linkages between European CSDs. What we call a "CSD link" is an arrangement allowing a central securities
19 Jul 2016 - The registration of securities holders refers to the process of recording ownership or legal holding in securities in an official list called the register. This list facilitates the identification of securities holders by issuers and regulators.
30 Jun 2016 - CSDs must have effective and transparent rules in place to manage a participant's default. To ensure that this is the case, the EU Regulation on CSDs (CSDR) foresees the adoption by ESMA of supervisory guidelines on
23 May 2016 - Gathering at KDPW’s headquarters in Warsaw for their Ordinary General Meeting on Friday 20 May 2016, ECSDA members re-elected Mathias Papenfuß of Clearstream as Chairman of the association. Representatives of 41 CSDs elected the Board of
22 Apr 2016 - Future reporting requirements for securities financing transactions (SFTs) may involve the provision of information on CSDs as "places of settlement". Commenting on the ESMA Discussion Paper issued on 11 March 2016, ECSDA outlines a couple of
4 Apr 2016 - In a short response to the Eurosystem consultation on the future of real-time gross settlement (RTGS) services, ECSDA outlines three aspects worth considering from a CSD perspective. When exploring the potential technical synergies between the TARGET2
29 Feb 2016 – The 2015 annual report of the association is available exclusively online and describes the key events that have marked the life of ECSDA in 2015. You can also obtain an overview of ECSDA members and governing
23 Feb 2016 - New global standards on cyber resilience will soon be adopted to complement the oversight Principles for financial market infrastructures (FMIs). Responding to a consultation released by the CPMI and IOSCO on 24 November 2015, ECSDA highlighted
29 Jan 2016 - Responding to a call for evidence on the EU regulatory framework for financial services, ECSDA has identified several areas where the quality of law-making can be improved in relation to post trade services and the activities
13 Oct 2015 - Based on data collected from 41 CSDs across Europe, ECSDA's new report describes existing account segregation practices with a view to inform the current debate on the optimal level of segregation, focusing on the perspective of
24 Sep 2015 - This year’s edition of the Factbook offers an up-to-date overview of the CSD landscape in Europe. A steady increase in the value of securities held on CSD accounts… From 2013 to 2014, the total value of
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
20 July 2015 - The growing popularity of virtual currencies such as bitcoins is having an impact on securities markets with the emergence of new forms of virtual currency-based investments. Transactions in these innovative products typically make use of "blockchain" technology, a
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
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. The very first priority of
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
24 Feb 2015 – This year, the ECSDA annual report is published in the form of an online blog highlighting the key events that have marked the life of the association in 2014. You can also obtain an overview of