04.01.2021

CSDR Settlement Discipline Regime Needs Review

The European Association of Clearing Houses (EACH) has published its response to the European Commission Inception Impact Assessment on CSDR. EACH strongly believes that the CSDR Review is necessary due to existence of inaccurate, redundant and unnecessarily burdensome provisions in the CSDR Settlement Discipline Regime (SDR).

The EACH response covers the following areas:

  • The need for CSDR SDR Review – The problems with CSDR and why CSDR Review is necessary to solve them.
  • The road forward – The path that EACH believes would lead to a smooth implementation of a more proportionate, effective and efficient CSDR SDR.
  • Concrete suggestions to reduce inaccuracies, redundancies and unnecessary burdens in the CSDR SDR – A simplified list of EACH issues on CSDR and a visual depiction of the issue of CSDR SDR Article 19 are included in our response.

For more information, please visit our website https://www.eachccp.eu.

Source: EACH

Related articles

  1. The change ensures compliance with CSDR after Brexit.

  2. Buy Side Airs Liquidity Concerns

    The mandatory buy-in provisions will adversely affect liquidity, especially for less-liquid securities.

  3. The recognition decision applies from 1 January until 30 June 2021.

  4. Buy Side Responds to Esma on Clearing Swaps

    These reports will contribute to the upcoming review of CSDR by the European Commission.

  5. BIS Warns on Asset Management

    There are financial penalties for failures under the upcoming Central Securities Depositories Regulation.