ECSDA views and news

The European Central Securities Depositories association (ECSDA) appreciates to possibility to contribute to further improvement of the AMI-SeCo on the Collateral Management Harmonisation Task Force (CMH-TF) draft standards. ECSDA welcomes and supports the harmonisation efforts undertaken by the CMH-TF and

ESMA to recognise the UK CSD in case of no-deal Brexit

ESMA announced the 1th of March 2019 that, in a case of a no-deal Brexit scenario, the CSDs established in the UK, Euroclear UK and Ireland Limited, will be recognised as a third country CSDs to provide their services in the

ECSDA answers ESMA on settlement fails reporting

The European Central Securities Depository Association (ECSDA) welcomes the issuance of this Consultation Paper on the guidelines of Fails reporting under Article 7(1). As we share the need of addressing some discrepancies and pitfalls in the fails reporting, we thank

ECSDA meets stakeholders on CSDR Penalties Framework

On Monday 18 February ECSDA had a dialogue with stakeholders on the ECSDA CSDR Penalties Framework. Updated version 17 April 2020 The workshop gave the opportunity to various industry associations to provide valuable input and questions that ECSDA will take

ESMA - Bank of England MOU on no-deal Brexit for CSDs & CCPs

On 4 February 2019, the European Securities and Markets Authority (ESMA) has agreed Memoranda of Understanding (MoUs) with the Bank of England (BoE) for the recognition of central counterparties and of the central securities depository established in the United Kingdom

CDCP, Slovak CSD is granted CSDR licence

The National Bank of Slovakia granted Centrálny depozitár cenných papierov SR, a.s. (CDCP) the authorisation for operation in compliance with valid European legal regulation effective from 28 January 2019. Granted authorisation directly relates to new European legal regulation harmonising requirements

Updated ECSDA CSDR Penalties Framework

On 29 January, ECSDA published the updated version of the ECSDA CSDR Penalties Framework. This version of the ECSDA Framework is based on the comments received during the public consultation in the summer 2018, further deep reflection among CSD experts and

Season's Greetings and best wishes from ECSDA

Thank you for sharing great moments with us in 2018! The European Central Securities Depositories Association wishes you and your families a merry holiday period and a wonderful 2019! Looking forward to restarting to work with you back again

ESMA consults on settlement guidelines

On 20 December, ESMA has published two Consultation Papers dedicated to CSDR (Regulation (EU) 909/2014) Settlement Discipline requirements: on Guidelines on settlement fails reporting, and on Guidelines on standardised procedures and messaging protocols. The consultations are open until 20 February

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 the

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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