ECSDA views and news

ECSDA views and news

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
19 Feb 2015 - In its response to the ESMA consultation on "Level 2" legislation on central securities depositories, ECSDA identifies several issues that need to be solved prior to the finalisation of the new rules. In relation to the
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
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
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
2 Sept 2014 - This year’s edition offers an up-to-date overview of the CSD landscape in Europe. The value of securities held on CSD accounts increased by more than 6% in 2013 From 2012 to 2013, the total value of
28 Aug 2014 - Following its publication in the Official Journal on Thursday 28 August 2014, the CSD Regulation ("CSDR") will officially enter into force on 17 September 2014. Many provisions, however, still require the adoption of implementing and delegated
15 July 2014 - On 9 April 2014, the European Commission issued a legislative proposal amending the Shareholders Rights Directive (SRD) of 2007. ECSDA looks at the expected impact of the proposal on central securities depositories (CSDs), and highlights some
22 May 2014 - ECSDA calls for a truly harmonised process for authorising and supervising central securities depositories in the European Union and warns against excessive recordkeeping requirements that seek to turn CSDs into ‘transaction repositories’. In the second part
22 May 2014 - European CSDs make concrete proposals for building a workable European settlement discipline framework. In the first part of its response to the ESMA public consultation on technical standards on the CSD Regulation, ECSDA puts forward detailed