Events listed in Central Securities Depositories Regulation (CSDR)
Regulation (EU) 2023/2845 as regards settlement discipline, cross-border provision ...
ID 26566
New Regulation (EU) 2023/2845 relating to the operation and passporting of central securities depositories (CSDs), the settlement discipline, and the provision of other banking-type services by CSDs was published in the Official Journal (OJ) of the EU. The Regulation is aimed at improving the operational efficiency of CSDs and – subsequently – the settlement of financial transactions and the functioning of the financial market ...
ALFI responds to the ESMA call for evidence on the shortening of the settlement ...
ID 26463
ALFI’s response to ESMA’s call for evidence on the move to T+1/T+0 settlement cycles, dated December 15, 2023, outlines ALFI’s perspectives on the potential transition. The document touches on various aspects of the proposed shift, emphasizing the challenges faced by asset managers, especially in terms of cash management and provides a detailed analysis of the impacts on various operational processes, including matching, allocation, affirmation, ...
ABBL answer to ESMA – Call for evidence on shortening of the settlement cycle
ID 26435
In response to ESMA’s call for evidence on the potential shortening of the securities settlement cycle in European markets, the ABBL, together with its members, has submitted a comprehensive response. As a reminder, the initiative by ESMA is driven by the objective of evaluating the feasibility of reducing the settlement cycle from the current T+2 to T+1, and potentially even T+0. The consultation aims ...
Shortening the settlement cycle
ID 26398
EFAMA supports a timely transition to a T+1 settlement cycle for Europe in response to the ESMA Call for Evidence (eventid=23184). EFAMA acknowledges the imminent move to T1 in the US (eventid=19797, eventid=24191) and emphasizes the need for a dynamic roadmap that can be adapted based on lessons learned from the US migration. The document highlights the **potential impacts of moving to T+1 or ...
Réponse AFG au Call for Evidence de l’ESMA sur un raccourcissement du cycle de ...
ID 26387
In response to ESMA‘ Call for Evidence regarding the potential reduction of the securities settlement cycle in the EU from T+2 to T+1, the AFG published a response and appreciates the opportunity to contribute to the discussion. The objective of this call is to gather insights from market participants and quantitative data to **evaluate the costs, benefits, and regulatory requirements associated with such a ...
ESMA consults on potential changes to the CSDR penalty mechanism
ID 26326
ESMA has initiated a consultation on potential modifications to the penalty mechanism outlined in the CSDR. The CSDR, established in 2014, aims to enhance securities settlement in the EU and regulate central securities depositories. Settlement fails, where transactions are not completed as intended, are addressed through reporting requirements, cash penalties, and mandatory buy-ins under the CSDR. ESMA’s consultation, open until 29 February 2024, seeks ...
BVI response on the Call for evidence in shortening the settlement cycle
ID 26317
Der BVI Veröffentlicht eine Stellungnahme zur ESMA-Konsultation „Call for Evidence on Shortening the Settlement Cycle: High-Level Remarks of the European T+1 Industry Task Force“ (eventid=23184). In seiner Stellungnahme signalisiert der BVI grundlegende Unterstützung für die geplante Verkürzung der Abwicklungsfrist von Wertpapiergeschäften in der EU von zwei auf einen Tag (T+1), betont jedoch die Notwendigkeit eines angemessenen Zeitrahmens für die Umsetzung, eins ...
AFME responds to ESMA consultation on shortening settlement cycles in the EU
ID 26305
AFME has provided a response to ESMA’s CfE on the potential shortening of settlement cycles in the EU (please see EventID#23184). AFME expresses its support for moving to a T+1 settlement cycle but underscores the complexity and demands associated with such a transition. AFME emphasizes the need for careful consideration of feedback before deciding on the next steps. AFME outlines key points in its ...
EFAMA Note: Impacts of US T1 on EU Regulation
ID 25655
EFAMA published a paper discussing the potential impacts of the US transitioning to a T+1 settlement cycle in May 2024 (US-eventid=19797) on EU regulations. The shift from T+2 to T+1 settlement cycles between the US and the EU is expected to introduce operational challenges and potentially alter market structures. However, a more direct consequence highlighted in the note is the impact on the enforcement ...
Improving the Settlement Efficiency Landscape in Europe
ID 25581
AFME and Deloitte released a report titled „Improving the Settlement Efficiency Landscape in Europe“. The report examines the causes of settlement fails in the EU securities market and provides recommendations to enhance the efficiency of post-trade processes. The lack of high-quality, granular, public data on settlement fail rates and reasons in Europe has been identified as a barrier to assessing the current environment. To ...