AFME welcomes CSDR political agreement

AFME has expressed its approval of the political agreement reached between the European Council and EP regarding the CSDR.
In the agreement, mandatory buy-ins are seen as a last resort measure, to be activated only if settlement levels in the EU have not improved and are considered to pose a risk to financial stability. AFME supports a focus on alternative tools to enhance settlement discipline and efficiency in Europe.
The CSDR Refit legislation in the EU will also mandate ESMA to assess the possibility of shortening the settlement cycle in the EU. AFME plans to engage with European authorities and market participants through its new European industry Task Force, which was established earlier in the year (eventid=19985). The Task Force will explore various aspects of the debate, including economic costs and savings, global alignment, and market attractiveness.