ESMA issues technical standards on settlement discipline under CSDR

01 February 2016

The Central Securities Depository Regulation harmonises the authorisation and supervision of EU central securities depositories. It also introduces a mandatory buy-in and other settlement discipline measures to tackle settlement fails.

ESMA published draft regulatory technical standards on settlement discipline which ESMA has to deliver for the implementation of the Central Securities Depository Regulation (CSDR).

ESMA’s RTS includes details on:

The European Commission has now three months to endorse the RTS, followed by a non-objection period of the European Parliament and Council. These rules will then enter into force two years after their publication in the Official Journal of the European Union. This will give enough time to relevant stakeholders to implement the changes needed to comply with the CSDR.

Final report