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
Central Securities Depositories Regulation is a step towards harmonization in European post-trade.
CSDR settlement discipline regime has mandatory buy-in rules.
Collab Capital is an early-stage venture capital fund investing in Black founders.
Participants need to avoid penalties when CSDR when it comes into full effect in 2022.
The European Association of Clearing Houses said provisions are inaccurate, redundant and burdensome.