Events listed in Central Securities Depositories Regulation (CSDR)
ESMA consults on the potential impact of shortening the standard settlement cycle
ID 25236
ESMA has launched a CfE to assess the possible impact of shortening the securities settlement cycle in the EU. The current settlement cycle in the EU stands at T+2, meaning that securities transactions are settled two business days after the trade occurs. ESMA is now considering the reduction of this cycle to T+1, which would expedite the settlement process. ESMA is soliciting feedback and ...
AFME welcomes ESMA Call for Evidence on shortening settlement cycles
ID 25230
AFME welcomes the CfE by ESMA regarding the shortening of settlement cycles in the EU (eventid=23184). To recall, ESMA is considering shortening the securities settlement cycle in the EU from T+2 to T+1 and is soliciting feedback from stakeholders to assess the costs and benefits of this change. The consultation also covers the scope of regulated financial instruments and potential impacts on **trading and ...
Commission Delegated Regulation (EU) 2023/1626 of 19 April 2023 on amending the ...
ID 24622
New Commission Delegated Regulation (EU) 2023/1626 as regards the collection of cash penalties by central securities depositories for „settlement fails relating to cleared transactions submitted by CCPs for settlement“ was published in the Official Journal (OJ) of the EU. *The Delegated Regulation modifies Article 19 of [Commission Delegated Regulation (EU) 2018/1229*](https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX:32018R1229&qid=1564391907210) ...
AFME welcomes CSDR political agreement
ID 23896
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 ...
[ESMA70-156-4448 ] Q&As – Central Securities Depositories Regulation
ID 22245
ESMA has published a new version of the Q&As on the implementation of Regulation (EU) No 909/2014 on enhancing securities Securities Settlement in the EU and on Central Securities Depositories. The purpose of this document is to promote common supervisory approaches and practices in the application of CSDR. It provides responses to questions posed by the general public, market participants and NCAs in relation ...
AFME announces establishment of T+1 industry taskforce
ID 22098
The Association for Financial Markets in Europe (AFME) has set up a new industry task force to assess the potential impact of moving to a one-day settlement cycle (T+1) in Europe. AFME is calling for a broad and diverse group of industry associations representing stakeholders to participate in the task force, that will assess whether Europe should follow other jurisdictions, such as the US, ...
ESMA assesses supervision of Central Securities Depositories
ID 21893
The European Securities and Markets Authority (ESMA), published its Peer Review Report on the national supervision of Central Securities Depositories (CSDs) providing cross-border services or participating in interoperable links. Six National Competent Authorities (NCAs) were evaluated in terms of how they supervise CSDs that use the freedom to provide services in another Member State. On-site visits to the CSSF (Luxembourg), FKTK (Latvia), and NBB ...
AFME comments on US move to one-day settlement cycles
ID 21891
The Association for Financial Markets in Europe (AFME) comments on the announcement by the US Securities and Exchange Commission (SEC) that the US will transition to a one-day settlement cycle (T+1) by May 2024. (eventid=19797) AFME believes that this goal is ambitious and will pose a significant challenge to all market participants worldwide, AFME is assisting its members and the industry as a whole ...