Monday July 9 2018
News Source: Global Exchanges
Focus: Other
Type: General
Country: European Union
The European Central Securities Deposit Associates (ECSDA) has announced the creation of its draft version for the future single Central Securities Depository (CSD) Settlement Fail Penalties Framework. The draft proposal will aim to create a harmonised and coherent set of rules and considerations for the construction and process of the Settlement Discipline Cash Penalties instruments. These instruments will affect all European CSD’s subject to the CSD Regulation (EU) 909/2014. They intend to provide a clear and concise framework for settlement penalties of CSD’s that have and have not joined T2S platform.
There will be an open consultation on the early draft framework running on 17 August for anyone interested in contributing and sharing their views to the proposal. To read the full document please click here.
Click on the above link for further information.