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
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
