INTERNATIONAL: New Regulations for the Central Securities Depositories Have Been Released

Wednesday September 19 2018

The final Regulatory Technical Standards (RTS) on Settlement Discipline established in the Central Securities Depositories Regulation (CDSR) have recently been published in the EU’s official Journal. Following no objections from the European Parliament and Council, the recent version was released by the Commission on 25 May.

The regulation will help improve the safety and efficiency of securities settlement by ensuring that buyers and sellers receive their securities and money on time and without risks. The regulation harmonises the timing and framework for securities settlement and it provides for a set of measures to prevent and address failures in the settlement of securities transactions.

A phase-in period of 24 months is included for the implementation of the settlement discipline requirements, to give all participants sufficient time to implement required IT system changes.

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