Euroclear Finland Receives New CSD License
Euroclear Finland has today received authorisation from the Finnish Ministry of Finance to operate under EU’s Central Securities Depository Regulation (CSDR).
— Euroclear Finland – Suomen Arvopaperikeskus (@EuroclearFin) August 21, 2019
CSDR’s main objectives are to create a consistent regulatory framework and a level playing field for CSDs’ and further support competition between CSDs’ in Europe. The need for a consistent regulatory approach to securities settlement and settlement discipline is even more pressing now in the evolution of the common European T2S settlement platform.
The level playing field created by the CSDR and the recently completed CSD infrastructure renewal project position Euroclear Finland in the forefront among the European CSDs to enter the new phase of a more standards-based securities settlement. Following Euroclear France, Belgium and Nederland, Euroclear Finland is the fourth Euroclear Group CSD to receive the CSDR license.
Source: Euroclear Finland
Euroclear Finland is a national central securities depository and securities settlement system operator with comprehensive issuance and post-trade services. In operation since 1992, Euroclear Finland has assets of over 375 billion euros in its custody in 1.5 million securities accounts
The settlement discipline regime will be implemented in February 2022.
CSDR settlement discipline measures are due to be implemented in February 2022.
CSDR buy-in requirements are scheduled to go live on 1 February 2022.
CSDR introduces cash penalties and buy-ins for securities transactions which fail to settle.
The Central Securities Depositories Regulation had a mandatory buy-in regime.